August 14, 2015
Vista Investment Group has secured $19.5 million in financing for the Broadcom Building in North San Jose, in a deal arranged by CBRE. The two-story property is located at 3100 North First Street, and encompasses 99,424 square feet. Vista paid nearly $30 million for the asset, which is double the price the building sold for six years ago.
CBRE brokered the deal, which provides five-year, non-recourse, floating-rate financing. Brad Zampa, Michael Walker and Megan Woodring of the commercial real estate services company’s Capital Market’s Debt & Structured Finance team were the brokers on the deal.
3100 North First is 100-percent leased by Broadcom Corp., which is in the wireless and broadband business.