Office - Debt

NorthMarq’s San Francisco office secures $46 million loan for Hellyer Oaks in San Jose, California

SAN FRANCISCO, CALIFORNIA (March 20, 2019) – Nathan Prouty, senior vice president/managing director, and Anika Comaroto, investment analyst in NorthMarq Capital’s San Francisco office arranged the $46,000,000 bridge financing for Hellyer Oaks, a two-building R&D property in South San Jose, California. The floating-rate transaction was structured with a 2-year interest-only term. NorthMarq arranged financing for the borrower, Vertical Ventures, an established real estate firm in the Bay Area. 

The property is a high-quality asset totaling 347,434 sq. ft. institutionally maintained, the campus has been significantly upgraded in the past three years, including new outdoor amenities. Hellyer Oaks is in close proximity to U.S. 101. The South San Jose R&D market has experienced significant growth in the previous years and offers one of the most compelling stories within the current Silicon Valley landscape.

“Following the impressive leasing velocity since Vertical Ventures’ acquisition, this new financing facility both reduced borrowing costs and provided additional capital needed to fully stabilize the project,” said Prouty. “The borrower will continue to improve spaces for tenants drawn to the desirable campus-like setting in South San Jose, an attractive alternative to the more costly and undersupplied downtown market.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.