NorthMarq Capital secures $200 million refinancing for six-building portfolio in Silicon Valley

SAN FRANCISCO (January 29, 2014) – NorthMarq Capital’s Dennis Sidbury, senior vice president-San Francisco office, arranged a $200 million financing of a six-building portfolio in the Silicon Valley, California. Five properties, comprising more than 500,000 sq. ft., are occupied by Microsoft and used as the company’s primary campus in the Silicon Valley. The sixth building, a 211,000 sq. ft. office building in Cupertino, California is leased to Apple. Brian Esquivel, senior analyst-NorthMarq’s San Francisco’s office, assisted in the transaction. The borrowing entities are all controlled by Carl Berg who developed the Microsoft campus in 1999 and the Apple property in 1981. Financing was arranged through Prudential Mortgage Capital Company for a 130-month term. “These are high-profile assets in the market” said Sidbury. “Prudential worked closely with us to finalize the loan before year-end and provided very attractive terms and service, driven by the strong credit and excellent market locations. The borrower is very happy with the outcome.” “The location of this property combined with the experience of the borrower and the high quality of the tenants, who have occupied the space for quite some time, made this an attractive transaction for us,” said Jaime Zadra, a principal with Prudential Mortgage Capital Company. Sidbury, who is the Chairman of the Board of the California Mortgage Bankers Association, has been with NorthMarq since 2004. He is a leading producer in the San Francisco office and has originated over $2.5 billion in loans in his career.