{"id":1004638944,"date":"2023-01-12T02:48:17","date_gmt":"2023-01-12T10:48:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004638944"},"modified":"2023-01-12T02:48:20","modified_gmt":"2023-01-12T10:48:20","slug":"tucson-office-asset-scores-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tucson-office-asset-scores-refi\/","title":{"rendered":"Tucson Office Asset Scores Refi"},"content":{"rendered":"<div id=\"attachment_1004638947\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/3330-e1673435511100.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004638947\" data-attachment-id=\"1004638947\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tucson-office-asset-scores-refi\/attachment\/3330\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/3330-e1673435511100.jpg\" data-orig-size=\"1000,750\" 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;\\u00a9 Yardi Systems, Inc.&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;0&quot;}\" data-image-title=\"3330\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/3330-e1673435511100.jpg?w=1000\" class=\"wp-image-1004638947 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/3330-e1673435511100.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/3330-e1673435511100.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/3330-e1673435511100.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/3330-e1673435511100.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004638947\" class=\"wp-caption-text\">Cambric Corporate Center<\/p><\/div>\n<p><strong>Venture West Funding<\/strong> has arranged $19.5 million in refinancing for Cambric Corporate Center, a 167,000-square-foot office property in Tucson, Ariz. The company arranged the financing through <strong>First Fidelity Bank<\/strong> on behalf of the borrowers and majority owners,<strong> West Coast Capital Partners<\/strong>.<\/p>\n<p>The current ownership purchased the asset in 2019, for $20.9 million, CommercialEdge data shows. Completed in 1985, Cambric Corporate Center is located at 1730-1880 E. River Road and is composed of seven one-, two- and three-story buildings offering 9,000-square-foot floor plates, five passenger elevators and 611 parking spots, the same data provider shows. The office asset is 94 percent occupied and now includes a new fitness center and new, computer-operated energy management systems.<\/p>\n<hr \/>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/sluggish-sales-and-refinancings-cast-doubt-over-property-values\/\">Sluggish Sales and Refinancings Cast Doubt Over Property Values<\/a><\/p>\n<hr \/>\n<p>Situated on an 8-acre lot, the campus is located at the intersection of East River Road and North Campbell Avenue, close to Interstates 10 and 19, 6 miles from downtown Tucson, providing easy access to the larger metro and Phoenix, <a href=\"https:\/\/www.commercialsearch.com\/news\/expansive-opens-metro-phoenix-coworking-space\/\">Mesa<\/a> or Chandler, Ariz.<\/p>\n<p>Venture West Funding Founder &amp; CEO Matt Douglas negotiated the five-year, fixed loan financing, with flexible pre-payment penalties on behalf of the borrower.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First Fidelity Bank provided the five-year, fixed-rate loan.<\/p>\n","protected":false},"author":2991,"featured_media":1004638947,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,21747,15],"tags":[51613,40592,46286],"class_list":["post-1004638944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-office","category-west","tag-first-financial-bank","tag-venture-west-funding","tag-west-coast-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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