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| Stevens Creek Executive Park in San Jose, CA, includes about 137,500 square feet of office and 28,000 square feet of retail space |
SAN FRANCISCO, CA – JLL
Capital Markets announced it has arranged $33.28 million in
acquisition financing for Stevens Creek
Executive Park, a five-building,
multi-tenant, mixed-use asset totaling 165,500 square feet of office and retail
space with additional entitlements in San Jose, California.
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| Alex Witt |
The property is situated on 9.24 acres at
4300-4400 Stevens Creek Blvd. in a transit-oriented Silicon Valley location
that is exposed to more than 100,000 vehicles per day.
Stevens
Creek Executive Park is also entitled for a major redevelopment that would
include 582 residential units, additional office space and 10,000 square feet
of retail.
The San Francisco JLL Capital Markets Debt Placement team
representing the borrower was led by Alex Witt, Brandon Roth and Spencer
Bergthold.
“Despite the market uncertainty caused by Covid-19, California
Bank and Trust delivered accretive financing for the acquisition,” Witt said.
“This speaks to the quality of the sponsor’s reputation and business plan that they successfully obtained non-recourse bank financing at a time of limited liquidity for like kind assets.”
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| Brandon Roth |
“This speaks to the quality of the sponsor’s reputation and business plan that they successfully obtained non-recourse bank financing at a time of limited liquidity for like kind assets.”
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices
in nearly 50 countries.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
 |
| Spencer Bergthold |
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visit our newsroom.
CONTACTS:
Alex Witt
CA Lic.: #01223413
Phone: +1 415 395 4976
Email: Alex.Witt@am.jll.com
Kimberly Steele
JLL
Senior Associate
Public
Relations
Phone: +1 713 852 3420
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