June 14, 2017
CBRE Capital Markets’ debt and structured finance team arranged a $16-million loan on behalf of ZMI Real Estate, LLC for the refinance of Carlsbad Commerce Center in Carlsbad, CA. The single-story, 10 building office and flex campus consists of 145,759 square feet, and is located at 2185-2237 Faraday Ave.
CBRE’s Mark McGovern, Scott Peterson and Brian Cruz secured a five-year loan through Aetna Life Insurance Company in order to pay off the existing mortgage, which was coming due in September.
The 91.3%-leased property is a mixture of office, creative office and flex units built between 1984-1986 and renovated in 2004. Notable tenants include Advanced Brain Monitoring, SabreSciences,Inc., and GIMDx,Inc.
The property is situated on 11.06 acres and is managed by Peregrine Realty Partners.
For comments, questions or concerns, please contact Dennis Kaiser