June 14, 2017 Comments Off on Carlsbad Commerce Center Refi’d for $16M Views: 500 California News, San Diego

Carlsbad Commerce Center Refi’d for $16M

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.

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