By Razvan Cimpean
CBRE Capital Markets has secured $45 million in long-term financing for the acquisition of Torre Plaza, an 88,580-square-foot office building in Cupertino, Calif. At the time of sale, the property was fully occupied by Amazon. CBRE’s Shawn Rosenthal secured the loan on behalf of an affiliate of Harbor Group International LLC. The ten-year interest-only loan was provided by JP Morgan.
Located at 10201 Torre Ave., in the heart of Cupertino, the Class A office building is within walking distance of De Anza and Sunrise bus station. The asset offers easy access to various shopping or dining options, including Sushi Kuni, Park Place and Whole Foods Market. The property also features more than 230 parking spaces.
According to Yardi Matrix data, JP Morgan Asset Management acquired the property in 2011 from Prudential Financial for $32.7 million.
Image courtesy of Yardi Matrix