{"id":1004290256,"date":"2019-01-09T05:32:44","date_gmt":"2019-01-09T13:32:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004290256"},"modified":"2022-12-08T10:08:46","modified_gmt":"2022-12-08T18:08:46","slug":"cbre-arranges-47m-loan-for-mn-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-47m-loan-for-mn-office-campus\/","title":{"rendered":"CBRE Lines Up $47M Loan for MN Office Campus"},"content":{"rendered":"<div id=\"attachment_1004290259\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Plymouth-Corporate-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004290259\" data-attachment-id=\"1004290259\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-47m-loan-for-mn-office-campus\/plymouth-corporate-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Plymouth-Corporate-Center.jpg\" data-orig-size=\"800,620\" 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=\"Plymouth Corporate Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Plymouth Corporate Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Plymouth-Corporate-Center.jpg?w=800\" class=\"wp-image-1004290259 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Plymouth-Corporate-Center.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Plymouth-Corporate-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Plymouth-Corporate-Center.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Plymouth-Corporate-Center.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004290259\" class=\"wp-caption-text\">Plymouth Corporate Center<\/p><\/div>\n<p>CBRE\u2019s Minneapolis-based Debt and Structured Finance Group has arranged a $47 million loan for Plymouth Corporate Center, a 630,000-square-foot office campus in Plymouth, Minn. Senior Vice President Joel Torborg secured the 10-year refinancing, which will cover the existing loan with Wells Fargo Bank. According to Yardi Matrix data, Wildamere Capital Management, the owner of Plymouth Corporate Center, took a $49.6 million loan from Wells Fargo in 2015, when it acquired the asset from Carlson Real Estate.<\/p>\n<p>The two-story building is located at 1405 Xenium Lane and is almost entirely occupied. Major tenants include TCF Bank, Comm-Works, Aetna Health and LLSC Holdings Corp. The property was completed in 1974 and functioned as an industrial facility until 1998, when it was converted into office. However, a portion of it\u2014approximately 135,000 square feet\u2014continues to be used as industrial space.<\/p>\n<p>Plymouth Corporate Center can be accessed via interstate 494 and is approximately 10 miles from downtown Minneapolis. The building includes acres of parking space, which can accommodate more than 2,200 vehicles.\u00a0The corporate center was fully renovated in 2009.<\/p>\n<p>The transaction comes a few days after CBRE&#8217;s Minneapolis Capital Markets closed a\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/minneapolis-area-logistic-centers-command-26m\/\">$26 million sale<\/a> of a two-building, core-plus logistics portfolio in Rogers, Minn.,<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The refinancing features a 10-year term and was secured on behalf of Wildamere Capital Management, the owner of Plymouth Corporate Center. <\/p>\n","protected":false},"author":242,"featured_media":1004290259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,13,36076,21742,21747],"tags":[42500,32789,33215,43619],"class_list":["post-1004290256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-midwest","category-minneapolis-st-paul","category-latest","category-office","tag-carlson-real-estate","tag-cbre","tag-wells-fargo-bank","tag-wildamere-capital-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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