{"id":1004206034,"date":"2018-02-06T09:29:14","date_gmt":"2018-02-06T17:29:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004206034"},"modified":"2022-12-07T21:50:15","modified_gmt":"2022-12-08T05:50:15","slug":"sacramento-office-campus-lands-45m-senior-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sacramento-office-campus-lands-45m-senior-loan\/","title":{"rendered":"Sacramento Office Campus Lands $45M Senior Loan"},"content":{"rendered":"<p>By Alex Ciorogar<\/p>\n<div id=\"attachment_1004206037\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Prospect-Green.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004206037\" data-attachment-id=\"1004206037\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sacramento-office-campus-lands-45m-senior-loan\/prospect-green\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Prospect-Green.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Alexandru Ciorogar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1517922507&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=\"Prospect Green Campus\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Prospect Green Campus&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Prospect-Green.jpg?w=800\" class=\"wp-image-1004206037 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Prospect-Green.jpg\" alt=\"Prospect Green Campus\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Prospect-Green.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Prospect-Green.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Prospect-Green.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004206037\" class=\"wp-caption-text\">Prospect Green Campus<\/p><\/div>\n<p>Pacific Coast Capital Partners LLC (PCCP)\u2014a real estate investment management company specializing in debt and equity financing\u2014has granted a $44.5 million senior loan to S&amp;P Co. and Basin Street Properties for the acquisition of Prospect Green, a Class A, 518,156-square-foot, two- and three-story building office campus in Rancho Cordova, Calif.<\/p>\n<p>Ranging from approximately 72,300 to 126,000 square feet, the buildings were developed in several phases between 1992 and 2001, and were\u00a0purchased in prices ranging from $99 million to\u00a0$179 million. Situated on a 32.5 acre-site, the property\u2019s major tenants include the State of California, Liberty Financial Home Equity, Allstate Insurance and NEC Solutions. According to PCCP, the property was 73 percent occupied at the time of the sale. Located at 10877 to 10951 White Rock Road, 10850 and 10860 Gold Center Drive, Prospect Green also features a workout facility and a caf\u00e9.\u00a0<\/p>\n<p><em>\u201cPCCP\u2019s loan includes funds for the property acquisition as well as capital for future capital improvements and leasing expenses,\u201d<\/em> said Jim Galovan, partner with PCCP, in prepared remarks. <em>\u201cThis is a quality asset with strong in-place cash flow and a significant opportunity to add value over the coming months through renovation and leasing.\u201d<\/em><\/p>\n<p>In the last few years, <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-sacramento-office-owners\/\">office-space development<\/a> in this metro area went towards a downward spiral. Nevertheless, suburban markets have recorded an impressive gush of transactions thanks to the employment\u2019s sector recovery and a growing demographic. Moreover, start-up companies are constantly searching for cheaper options as compared to larger metro areas.<\/p>\n<p><em>Photo courtesy of Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prospect Green is a Class A, 518,156-square-foot, two- and three-story building office campus in Rancho Cordova, Calif. The loan will cover both capital improvements and leasing expenses. <\/p>\n","protected":false},"author":928,"featured_media":1004206037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21825,21783,21742,21747,36080,15],"tags":[39043,33053],"class_list":["post-1004206034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-finance","category-investment","category-latest","category-office","category-sacramento","category-west","tag-jim-galovan","tag-pccp-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sacramento Office Campus Lands $45M Senior Loan - 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\/sacramento-office-campus-lands-45m-senior-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sacramento Office Campus Lands $45M Senior Loan\" \/>\n<meta property=\"og:description\" content=\"Prospect Green is a Class A, 518,156-square-foot, two- and three-story building office campus in Rancho Cordova, Calif. 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