Newmark Realty Arranges $5.4MM Loan for Los Gatos Gateway Building

Newmark Realty Capital Los Gatos Gateway

los-gatos-gatewayLOS GATOS, CA – Newmark Realty Capital, Inc. has arranged $5,400,000 in permanent financing for Los Gatos Gateway, an 18,500 square foot mixed-use medical office and retail building. The property contains ground floor retail with credit tenants and two floors of Medical Office use, which benefits from its proximity to The Good Samaritan Hospital. Andy Bratt, Vice President, from Newmark’s Newport Beach office arranged the non-recourse financing and was able to provide a fully amortizing loan fixed for 20 years at an incredibly low interest rate of 3.25%. The property was originally developed by the owner in 2006 and the new financing retired a maturing CMBS loan.

Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.

West Coast Commercial Real Estate News