{"id":1004121632,"date":"2015-06-21T17:39:24","date_gmt":"2015-06-22T01:39:24","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353339"},"modified":"2022-12-08T20:20:33","modified_gmt":"2022-12-09T04:20:33","slug":"milpitas-refi-points-to-industrial-surge","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/milpitas-refi-points-to-industrial-surge\/","title":{"rendered":"Milpitas Refi Points To Industrial Surge"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

In a sign that Milpitas’ industrial market could be getting ready to surge, \u00a0Stephens & Stephens .L.LC. is refinancing a Class B research and development asset in the area. The company recently completed a financing deal with \u00a0Los Angeles-based Calmwater Capital, netting $26.2 million in funding.<\/p>\n

The credit facility comprises a $12.4 million short-term loan, as well as a future funding of $13.8 million for a host of improvements, capital expenditures and other expenses at the 181,000-square foot R&D facility. The refinancing reflects improving local fundamentals, as availability and vacancy been declining dramatically in the\u00a0Milpitas R&D market for the past few quarters.<\/p>\n

Stephens & Stephens, an affiliate of\u00a0D.R. Stephens & Co.\u00a0launched in 1999 invests in office, industrial and R&D properties in the San Francisco Bay area. The entity\u2019s current portfolio consists of 30 properties.<\/p>\n

Calmwater Capital is the new corporate handle of Karlin Real Estate Lending, part of a repositioning process that features a more aggressive investment strategy for the five-year-old company. Backed by Karlin Asset Management, Calmwater has arranged $900 million in\u00a0financings for a diverse portfolio of real estate assets. During the first quarter, \u00a0Calmwater arranged loans worth a total of $161 million and is on track to complete $93 million in financings by the end of the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Even if you had no knowledge of the fact that Milpitas is set to have a growing industrial market, you’d get a hint from the fact that Stephens & Stephens, LLC is refinancing a Class B R&D asset it owns in the area. The Milpitas R&D market’s has been dipping in terms of availability rates and vacancy number over the past few quarters. Colliers International noted that industrial activity in the sector was accelerated during the first quarter, besting last year’s fourth quarter numbers fivefold.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1609],"tags":[],"class_list":["post-1004121632","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-francisco"],"acf":[],"yoast_head":"\nMilpitas Refi Points To Industrial Surge - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/milpitas-refi-points-to-industrial-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Milpitas Refi Points To Industrial Surge\" \/>\n<meta property=\"og:description\" content=\"Even if you had no knowledge of the fact that Milpitas is set to have a growing industrial market, you’d get a hint from the fact that Stephens & Stephens, LLC is refinancing a Class B R&D asset it owns in the area. 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