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| Civic Center Plaza, 3950 Civic Center Drive, San Rafael, CA |
SAN FRANCISCO, CA –-
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured acquisition
financing for Civic Center Plaza, a
two-building, Class A office campus totaling 93,535 square feet in San Rafael,
California.
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| Bruce Ganong |
Working on behalf of the
borrower, a joint venture between Union Property Capital and a high-net-worth
investor, HFF placed the loan with USAA Real Estate Company on behalf of an
affiliate.
Civic Center Plaza is
located at 3900 and 3950 Civic Center Drive on a five-acre site adjacent to
Highway 101 in the heart of Marin County.
The property is 96 percent leased to multiple tenants including Autodesk
and Marin General Hospital.
Originally constructed in 1988 and recently
renovated and upgraded in 2011, Civic Center Plaza is LEED Silver certified and
has enjoyed stable occupancy throughout its history.
The HFF debt placement
team representing the borrower was led by senior managing director Bruce Ganong.
“USAA Real Estate Company
provided fixed-rate financing for a term of 10 years and prevailed over a
number of competing proposals from other life insurance companies,” said
Ganong.
“The depth of interest in this
transaction is good evidence that portfolio lenders continue to have ample
liquidity and offer attractive terms for strong sponsors with well-located
assets generating stable cash flow.”
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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