NorthMarq Capital’s San Francisco office arranges $4 million refinance of a 66,000 sq.ft. office property in San Jose, California
SAN FRANCISCO (November 16, 2015) – Dennis Williams, senior vice president and managing director of NorthMarq Capital’s San Francisco office arranged the $4 million refinance of a 65,949 sq.ft. office property located at 950 South Bascom Avenue in San Jose, California. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Built in 1985, this three-story class “B” office building provides flexible floor plans for multiple tenants and offers both street-level and below grade parking. Conveniently located between Interstate 880 and 280, the property offers excellent access to the entire Silicon Valley market. “The life company lender provided a quick and efficient refinance on attractive terms for this stabilized Silicon Valley office asset,” said Williams.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
