SAN FRANCISCO – Dennis Williams, senior vice president and managing director of NorthMarq Capital’s San Francisco office arranged the $4 million refinance of a 65,949 sq.ft. office property located at 950 South Bascom Avenue in San Jose, California. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
Built in 1985, this three-story class “B” office building provides flexible floor plans for multiple tenants and offers both street-level and below grade parking. Conveniently located between Interstate 880 and 280, the property offers excellent access to the entire Silicon Valley market.
“The life company lender provided a quick and efficient refinance on attractive terms for this stabilized Silicon Valley office asset,” said Williams.