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CBRE Arranges $21M Financing for Downtown San Mateo Building
An entity owned and controlled by Windy Hill Property Ventures secured $21 million in financing from a New York based life insurance company to refinance 2 East Third Ave. in San Mateo, CA. The 100% leased 25,000-square-foot Class A office building is located in the downtown CBD.
Built in 2016, the asset features modern office interior finishes, efficient floor plates, natural light from expansive windows and a private roof deck. Motif Investing, Inc, leases 100% of the three-floor office space with SoulCycle leasing the ground-floor retail suite.
CBRE’s Michael Walker, Brad Zampa, Megan Woodring, and Taylor Shepard arranged the 10-year fixed-rate loan at a competitive spread priced over 10-year treasuries.
Walker says, “We brought an East Coast based life insurance lender to the table who traditionally hadn’t lent much in our markets. They had been looking to build out their investment portfolio with top tier regional sponsors on newer construction assets.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


