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Acclaim Snags $66M Construction Financing for Redwood City Spec Development
Acclaim Companies secured $65.7 million in non-recourse construction financing for the speculative development of 855 Main Street, a 100,000-square-foot office building in downtown Redwood City, CA. The Menlo Park-based company received entitlement approvals for the project this past June.
The state-of-the-art, neoclassical, mixed-use office and retail building will provide prospective tenants with vibrant office space within a short walking distance of downtown multifamily housing, amenities and public transit opportunities, including Redwood City’s nearby Caltrain Station.
NKF’s Ramsey Daya, Chris Moritz and Travis Bailey represented the borrower in the financing efforts.
“Acclaim’s exemplary track record and top-notch reputation resulted in a financing process that attracted significant interest from a variety of capital providers,” Moritz said. “With a keen understanding of the Redwood City market and its supply constraints, Square Mile was able to provide competitive terms and move quickly to satisfy the client’s development timeline.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development
