{"id":1004167082,"date":"2017-02-20T05:45:09","date_gmt":"2017-02-20T13:45:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004167082"},"modified":"2022-12-09T02:02:00","modified_gmt":"2022-12-09T10:02:00","slug":"natixis-finds-varying-refi-solutions-for-silicon-valley-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/natixis-finds-varying-refi-solutions-for-silicon-valley-assets\/","title":{"rendered":"Natixis Finds Refi Answers for Silicon Valley Trio"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor <\/em><\/p>\n<p><strong>Silicon Valley, Calif.<\/strong>\u2014Through its Los Angeles office, Natixis has originated three loans totaling $75 million to refinance a portfolio of office buildings in Silicon Valley, the company announced late last week. The loans, which were uncrossed, were provided to Pollock Realty Corp. through Natixis\u2019 CMBS and portfolio lending programs.<\/p>\n<div id=\"attachment_1004167088\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3495-Deer-Creek-Road.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004167088\" data-attachment-id=\"1004167088\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/natixis-finds-varying-refi-solutions-for-silicon-valley-assets\/3495-deer-creek-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3495-Deer-Creek-Road.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"3495 Deer Creek Road\" data-image-description=\"&lt;p&gt;3495 Deer Creek Road&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;3495 Deer Creek Road&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3495-Deer-Creek-Road.jpg?w=800\" class=\"wp-image-1004167088 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3495-Deer-Creek-Road.jpg\" alt=\"3495 Deer Creek Road\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3495-Deer-Creek-Road.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3495-Deer-Creek-Road.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3495-Deer-Creek-Road.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004167088\" class=\"wp-caption-text\">3495 Deer Creek Road in Palo Alto, Calif.<\/p><\/div>\n<p>The first property, 3495 Deer Creek Road, is an 81,000-square-foot office building in Stanford Research Park in Palo Alto. It is fully leased to EMC Corp., which will be vacating in the near future as part of a strategic decision by EMC\u2019s new parent company, Dell.<\/p>\n<p>Natixis used its portfolio lending program to provide a $33 million floating-rate loan with a two-year initial term and two one-year extension options. The loan refinances the existing debt and funds future leasing costs.<\/p>\n<p>3408 Hillview Ave. is a 56,279-square-foot office building that also is in Stanford Research Park. It\u2019s 100 percent leased to SAP Labs, a subsidiary of SAP North America. Natixis employed its CMBS program to provide a $30 million, 10-year, fixed-rate loan to refinance the existing debt and fund outstanding leasing costs associated with SAP\u2019s recent extension.<\/p>\n<p>350 Marine Parkway is a 34,800-square-foot office building in the Redwood Shores region of Redwood City. The property is 100 percent leased to three tenants and was refinanced with a $12 million fixed-rate loan with a five-year term.<\/p>\n<p>Each of these three properties has a different business plan and each is at a different stage in the stabilization cycle, Greg Murphy, head of Natixis Real Estate Finance Americas, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>One property was already stabilized and ready for immediate CMBS execution, while a second needed some short-term seasoning to stabilize and take full advantage of an efficient CMBS execution. The final property was truly transitional in nature and needed medium-term financing to lease-up and stabilize.<\/p>\n<p>Natixis\u2019 wide product base, Murphy said, provided financing solutions for these assets with very different profiles.<\/p>\n<p>The transaction was arranged by Gregory Gray of Barry Slatt Mortgage.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm secured loans for Pollock Realty Corp. through its CMBS and portfolio lending programs.<\/p>\n","protected":false},"author":882,"featured_media":1004167088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21742,21747,1609,15],"tags":[34029],"class_list":["post-1004167082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-latest","category-office","category-san-francisco","category-west","tag-natixis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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