{"id":1004125787,"date":"2015-08-20T09:40:30","date_gmt":"2015-08-20T17:40:30","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=358582"},"modified":"2022-03-03T23:34:47","modified_gmt":"2022-03-04T07:34:47","slug":"cbc-alliance-industrious-in-refinancing-city-of-industry-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbc-alliance-industrious-in-refinancing-city-of-industry-asset\/","title":{"rendered":"CBC Alliance Industrious in Refinancing City of Industry Asset"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>A refinancing process was recently completed by <a href=\"https:\/\/cbcalliance.com\" rel=\"nofollow\">Coldwell Banker Commercial Alliance<\/a> in the City of Industry. Arranged by the Los Angeles-based Senior Director of Loan Originations Gianni Novo, the refinance was worth $20 million. The 10-year fixed, non-recourse debt was sourced from <a href=\"https:\/\/www.db.com\/index_e.htm\" rel=\"nofollow\">Deutsche Bank<\/a>.<\/p>\n<p>The refinance was a CMBS execution on a 324,925-square-foot industrial property. The single-tenant, owner-user corporate HQ building is located in Industry, an L.A.-area city whose market is dominated by industrial real estate.<\/p>\n<div id=\"attachment_358590\" class=\"wp-caption alignright\" style=\"width: 309px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Gianni-Novo.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-358590\" title=\"Gianni Novo\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Gianni-Novo.jpg\" alt=\"Gianni Novo - Senior Director of Loan Originations\" width=\"299\" height=\"299\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Gianni Novo &#8211; Senior Director of Loan Originations<\/p>\n<\/div>\n<p>According to Gianni Novo, the team worked with the lender to \u201covercome challenges commonly encountered with institutional sized CMBS transactions of this nature.\u201d Novo also mentioned that the deal\u2019s owner-user aspect underlines the financing community\u2019s \u201cincreasing appetite for debt yield on non-credit grade assets.\u201d The financing process eventually closed successfully, in an environment that has become more volatile following the Greek\/Eurozone debt crisis.<\/p>\n<p>CBC Alliance Executive Vice President of Capital Markets, Adam Petriella mentioned that the deal is indicative of the company\u2019s current strategy, one that pursues to strengthen its relationship with the banking community, and as a result, bolster its ability to offer the strongest financing offers.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arefinancing process was recently completed by Coldwell Banker Commercial Alliance in the City of Industry.<\/p>\n","protected":false},"author":41,"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":[1594,21742],"tags":[],"class_list":["post-1004125787","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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