News:
Brokerage
Posted: June 20, 2017
News Outside the Region: CBRE Capital Markets complete $45 million acquisition of Torre Plaza
Cupertino, CA According to CBRE Capital Markets’ Debt & Structured Finance team, it has secured $45 million in long-term financing for the acquisition of Torre Plaza, an 88,580 s/f, class A, institutional-quality office building.
Shawn Rosenthal of CBRE’s Midtown Manhattan office secured the loan on behalf of the borrower, an affiliate of Harbor Group International, LLC. The ten-year interest-only loan was provided by J.P. Morgan.
The three-story property is situated on a 4.2 acre site and is 100% leased to a leading online retailer.
“The combination of a AA- credit rated tenant, strong and active sponsorship group, and the healthy Cupertino office market led to heated competition for this loan from the financing markets. The end product was an aggressively priced ten-year interest-only loan,” said Rosenthal, executive vice president, CBRE.
Tags:
Brokerage
MORE FROM Brokerage
Devli Real Estate acquires 67,000 s/f flex industrial property on Rte. 17 in Upper Saddle River
Upper Saddle River, NJ Devli Real Estate acquired 118 Rte. 17 North, a 67,000 s/f flex industrial/retail asset situated on 6.3 acres with highway frontage. The property is positioned along
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
