Valencia, CA – September 26, 2018 – CBRE has arranged the bridge debt financing for the $34 million recapitalization of Valencia Corporate Plaza, an office property in Valencia, CA.
Marina Massari, Sharon Kline, and Evan Chan of CBRE Capital Markets’ Debt & Structured Finance team facilitated the loan for the owner, True North Capital Management, from Amherst Capital Management, the lender. The debt has a three-year term, with two extensions, and full-term interest only.
Valencia Corporate Plaza, a three-building mid-rise office complex totaling 194,676 square feet, was built in 1999 (two buildings) and 2007 (one building). The property, located at 28470-28490 Avenue Stanford, benefits from an exceptional location fronting Interstate 5 with signage visibility and excellent access.
The surrounding market offers a quality of life, affordability of housing, and availability of space that is in short supply in Los Angeles County. Valencia Corporate Plaza is situated in a high-growth area where a recently approved $12 billion community development will deliver 21,500 new homes and an estimated 8.4 million sf of commercial space over the next 15-20 years.
“Recent upgrades, great building bones, and its central location close to a multitude of amenities, make Valencia Corporate Plaza a fantastic opportunity,” said Massari. “With additional leasing over the term of the loan which will add to an already desirable and high credit tenant roster, the asset will become even more attractive to investors.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
