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CBRE Capital Markets’ Debt & Structured Finance team has successfully arranged a $37.75-million loan to refinance 101 Redwood Shores, a premier Class A office building in the highly desirable location of Redwood City. The sponsor, Diamond Investment Properties, was represented by CBRE’s Northern California Capital Markets Institutional Properties team consisting of EVP Mike Walker and Brad Zampa. The loan was originated by a reputable financial institution based in Chicago.
According to Walker, the property’s exceptional amenities and prime location combined with the potential for a long-term partnership with Diamond Investment Properties resulted in an attractive financing solution being secured. In today’s challenging market conditions for office assets, creativity is key when it comes to securing financing options that strike the right balance between pricing and proceeds while also adding value overall – which makes this deal even more noteworthy as it sets an excellent benchmark for future transactions as liquidity begins returning to this asset class.
The fully leased 100-plus-square-foot office building known as 101 Redwood Shores is home to Zuora on a five-year lease term and boasts modern features that make it stand out from other properties on San Francisco Peninsula just off U.S Highway 101.
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