{"id":1004180632,"date":"2017-06-15T07:23:45","date_gmt":"2017-06-15T15:23:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004180632"},"modified":"2022-12-08T19:46:24","modified_gmt":"2022-12-09T03:46:24","slug":"newmark-secures-68m-financing-for-silicon-valley-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newmark-secures-68m-financing-for-silicon-valley-assets\/","title":{"rendered":"Newmark Secures $68M Financing for Silicon Valley Assets"},"content":{"rendered":"

By Ariela Moraru<\/p>\n

Newmark secured around $67.8 million in long-term financing for a big-box retail center in San Jose and two\u00a0office properties in Silicon Valley.<\/a>\u00a0The firm\u2019s debt transaction volume in 2017 in these submarkets is now $157 million. The company will service all three loans.<\/p>\n

“Each of these transactions <\/em>reflects broader trends in the current marketplace regarding commercial real estate finance,”<\/em>\u00a0said Michael Heagerty, principal &\u00a0CFO with Newmark, in prepared remarks. “These strategic refinancings typically position the property for long-term stability, sometimes extracting appreciated value for a variety of potential uses, or positions the property for sale, transfer to new ownership structure or renovation and improvement.”<\/em><\/p>\n

Oakmead Terrace Gets $36M<\/h2>\n
\"Oakmead<\/a>

Oakmead Terrace, Sunnyvale, Calif.<\/p><\/div>\n

Newmark secured $35.8 million in financing for the 143,343-square-foot Oakmeed Terrace, a Sunnyvale office campus. Located at 1230-1290 Oakmead Parkway in Sunnyvale, Calif., a 10-minute drive from San Jose International Airport, the four-building campus was originally built in 1980. Newmark Principal Eric Von Berg arranged the five-year loan, which features an interest-only base period with a 30-year amortization and offers a flexible prepay component with non-recourse terms.<\/p>\n

Home Depot-Anchored Retail Center<\/h2>\n

The company arranged $19.2 million in financing, secured by a 134,000-square-foot, fully leased retail center in San Jose, anchored by Home Depot on a ground lease. Principals Mitch Zeemont, Jeff Wilcox and Robert Slatt, Associate Vice President Erinn Cooke and Associate Darija Walker arranged the non-recourse, 10-year fixed-rate term loan, with a 30-year amortization and no reserves or impounds required.<\/p>\n

De Ritz<\/h2>\n
\"De<\/a>

De Ritz, San Mateo, Calif.<\/p><\/div>\n

The $12.8 million financing is secured by De Ritz, a 62,661-square-foot multi-tenant office property in San Mateo, Calif. Located at 1528 S. El Camino Real, the Class B office building is fully occupied and is located blocks away from Highway 92. The four-story asset was built in 2000 and sits directly across from a Safeway-anchored shopping center, close to a retail corridor. Principals Jeff Wilcox and Mitch Zeemont, and Associate Darija Walker arranged the non-recourse, 10-year term, 25-year amortization loan.<\/p>\n

Images courtesy of Newmark and Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The recent long-term financing for two office properties and a big-box retail center brings the firm\u2019s debt transaction volume in these submarkets to $157 million in 2017.<\/p>\n","protected":false},"author":960,"featured_media":1004180633,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,21747,21749,1609,36079,15],"tags":[36203,36187,36202],"class_list":["post-1004180632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-office","category-retail","category-san-francisco","category-san-jose","category-west","tag-de-ritz","tag-newmark-realty-capital","tag-oakmed-terrace"],"acf":[],"yoast_head":"\nNewmark Secures $68M Financing for Silicon Valley Assets - 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\/newmark-secures-68m-financing-for-silicon-valley-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newmark Secures $68M Financing for Silicon Valley Assets\" \/>\n<meta property=\"og:description\" content=\"The recent long-term financing for two office properties and a big-box retail center brings the firm\u2019s debt transaction volume in these submarkets to $157 million in 2017.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newmark-secures-68m-financing-for-silicon-valley-assets\/\" \/>\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=\"2017-06-15T15:23:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:46:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Oakmead-Terrace-Sunnyvale-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"962\" \/>\n\t<meta property=\"og:image:height\" content=\"731\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ariela Moraru\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-secures-68m-financing-for-silicon-valley-assets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-secures-68m-financing-for-silicon-valley-assets\\\/\"},\"author\":{\"name\":\"Ariela Moraru\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/411d261c513cee4c8ccbfb27f5380e0b\"},\"headline\":\"Newmark Secures $68M Financing for Silicon Valley Assets\",\"datePublished\":\"2017-06-15T15:23:45+00:00\",\"dateModified\":\"2022-12-09T03:46:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-secures-68m-financing-for-silicon-valley-assets\\\/\"},\"wordCount\":355,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-secures-68m-financing-for-silicon-valley-assets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/06\\\/Oakmead-Terrace-Sunnyvale-Calif..jpg\",\"keywords\":[\"De Ritz\",\"Newmark Realty Capital\",\"Oakmed Terrace\"],\"articleSection\":[\"Finance\",\"News\",\"Office\",\"Retail\",\"San Francisco\",\"San Jose\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-secures-68m-financing-for-silicon-valley-assets\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-secures-68m-financing-for-silicon-valley-assets\\\/\",\"name\":\"Newmark Secures $68M Financing for Silicon Valley Assets - 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