{"id":1004138539,"date":"2016-03-04T03:55:36","date_gmt":"2016-03-04T11:55:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004138539"},"modified":"2022-03-03T00:53:25","modified_gmt":"2022-03-03T08:53:25","slug":"northmarq-completes-refi-of-cupertino-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northmarq-completes-refi-of-cupertino-office-asset\/","title":{"rendered":"Northmarq Completes Refi of Cupertino Office Asset"},"content":{"rendered":"

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

Cupertino, Calif.<\/strong>\u2013Northmarq Capital<\/a> recently completed the successful refinance of a California office<\/a> asset on behalf of owner Prometheus Real Estate Group<\/a>. Cupertino City Center received $148 million sourced by Northmarq through its correspondent relationship with Allianz Real Estate of America<\/a> on behalf of Allianz Life Insurance Co.<\/p>\n

The Northmarq team tasked with arranging the refinance consisted of President Jeffrey Weidell, Managing Director Nathan Prouty and Vice President Andrew Slaton. The team structured the transaction with a 10-year term and 30-year amortization schedule.<\/p>\n

\"Cupertino<\/a>

Cupertino City Center<\/p><\/div>\n

Located at 20400 and 20450 Stevens Creek Blvd., Cupertino City Center offers a total of 354,770 square feet of office space. Built in the 1980’s, the two eight-story buildings continue to be the tallest in the Cupertino market, with a tenant roster that includes\u00a0Seagate Technology, Apple and Morgan Stanley. The office buildings were originally part of the Cupertino City Center mixed-use development that consists of five office buildings, a hotel and three residential projects.<\/p>\n

According to Andrew Slaton, \u201cthese buildings have been well occupied since they were built.\u201d This historic aspect allowed Allianz to provide competitive terms for the refinancing process, Slaton also pointed out.<\/p>\n

Image via\u00a0Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Northmarq worked with Allianz to provide the $148 million refinance. <\/p>\n","protected":false},"author":41,"featured_media":1004138541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21742,21747,1609,15],"tags":[],"class_list":["post-1004138539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-latest","category-office","category-san-francisco","category-west"],"acf":[],"yoast_head":"\nNorthmarq Completes Refi of Cupertino Office Asset - 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\/northmarq-completes-refi-of-cupertino-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Northmarq Completes Refi of Cupertino Office Asset\" \/>\n<meta property=\"og:description\" content=\"Northmarq worked with Allianz to provide the $148 million refinance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/northmarq-completes-refi-of-cupertino-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-03-04T11:55:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T08:53:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Cupertino-City-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1427\" \/>\n\t<meta property=\"og:image:height\" content=\"875\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northmarq-completes-refi-of-cupertino-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/northmarq-completes-refi-of-cupertino-office-asset\/\",\"name\":\"Northmarq Completes Refi of Cupertino Office Asset - 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