March 18, 2020 Comments Off on CBRE Arranges Sale & Financing for Swift’s $56M San Jose Buy Views: 785 Bay Area, California News

CBRE Arranges Sale & Financing for Swift’s $56M San Jose Buy

Order Reprints...

Swift Real Estate Partners has acquired Hellyer Oaks Technology Park, two interconnected office/R&D buildings located at 5215 and 5225 Hellyer Ave. in San Jose, CA. The seller was Walnut Creek, CA-based Vertical Ventures.

The property was constructed in 1984 and renovated in 2017, with $5.4 million in additional improvements invested since that time. The two buildings total 347,000 square feet, and traded 85 percent leased to a diverse tenant roster.

CBRE’s investment sales specialists Scott Prosser, Joseph Moriarty, Jack DePuy and Russell Ingrum represented Vertical Ventures in the sale.

A CBRE Capital Markets team including Mike Walker, Brad Zampa, Megan Woodring and Taylor Shepard, represented Swift as finance advisor, arranging a $45.3 million, six-year, non-recourse loan at a competitive spread priced over 30-day LIBOR. The balance sheet loan was provided by an east-coast-based bank and will finance the acquisition, including additional proceeds for future capex and tenant improvements.

Connect With CBRE – Investment Sales

Connect With CBRE – Capital Markets

Get CRE News in 150 words
For comments, questions or concerns, please contact Chris Egger

Tags: , , , , ,

Comments are closed.

Send this to a friend