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Northmarq Arranges $145M Refi for Cupertino Offices
Northmarq’s San Francisco Debt + Equity team, led by Nathan Prouty, Andrew Slaton and John Holt, arranged $145 million in refinancing for The Towers at Cupertino City Center, a two-building Class A office campus in Cupertino. Located at 20400 and 20450 Stevens Creek Blvd., the 357,502-square-foot property is owned and operated by Prometheus Real Estate Group.
The refinancing followed a competitive marketing process that generated strong interest from a broad cross-section of capital providers, including multiple CMBS lenders. “While the office capital markets remain selective, this transaction demonstrated that lenders will engage for assets with strong fundamentals and a compelling business plan,” said Prouty. “Recent capital investment, durable tenancy and prime Silicon Valley positioning were key drivers of lender interest.”
The property features a diversified tenant roster that includes globally recognized technology companies, institutional financial services firms such as Morgan Stanley, and a mix of established and growth-oriented users.
- ◦Financing
