Northmarq completes $13.5 million refinancing for suburban office property in Rancho Cordova, CA

RANCHO CORDOVA, Calif. (Dec. 11, 2024) — Northmarq’s San Francisco Debt + Equity team led by Managing Director Dennis Williams and Vice President Brandy Buttram, secured the $13.5 million refinance of a 116,000 sq.-ft., multi-tenant office building located on Prospect Park Dr. in Rancho Cordova, California.

Northmarq arranged financing on behalf of the Bay Area-based borrower, with a regional bank. The transaction was structured on a 5-year term.

“We were able to secure financing from a local lender, providing the sponsor with the funds needed to complete tenant improvements for newly signed leases,” said Williams. “This solution aligned with their long-term hold strategy and provided the stability needed to position the property for sustained success.”

The multi-tenant, four-story office property was built in 1999 and sits on a 6.3-acre lot. The property boasts visibility on Highway 50, new rooftop solar installed in 2022, on-site fitness center and property management and is LEED Gold Certified and Energy Star Rated.