June 15, 2017
San Francisco-based Newmark secured $67.75 million in long-term financing for three San Jose and Silicon Valley properties. So far in 2017, Newmark has structured $157-million in new debt solutions for 13 properties in the region.
Two of the transactions were for office properties, and one for a big-box retail center including:
- Oakmead Terrace, Sunnyvale, CA ($35.8 million), a four-building, 143,343-square-foot office campus, originally built in 1980. Newmark’s Eric Von Berg arranged the loan.
- Home Depot Anchored Retail Center, San Jose, CA ($19.2 million) loan secured by a 134,000-square-foot, 100%-leased center, anchored by Home Depot on a ground lease. Newmark’s Mitch Zeemont, Jeff Wilcox, Robert Slatt, Erinn Cooke and Darija Walker arranged the loan.
- De Ritz Office Property, San Mateo, CA ($12.75 million) loan secured by a four-story, 62,661-square-foot, multi-tenant, Class-B office property that’s 100%-occupied. Newmark’s Wilcox, Zeemont and Walker arranged the amortization.
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