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California  + Bay Area  + Finance  | 

Colliers Arranges $33M Refi on Bayfair Mall Redevelopment

Colliers Mortgage California Structured Finance Group secured a $33,000,000 bridge loan on behalf of B3 & Gaw to refinance the old Bayfair Mall in San Leandro, which is undergoing redevelopment into a mixed-use retail power center and emerging R&D campus.

Arranged by Shahin Yazdi and Jonathan Lee, executive managing directors of the Structured Finance Group, along with team members Tommy Adelson and William Hyatt, the financing includes a 36-month term with optional extensions and carries a rate of SOFR plus 4.00%. The loan features a fully non-recourse structure with no interest, carry or completion guarantees.

“The combination of our sponsor’s successful history in executing on these large-scale projects and our team’s depth of capital relationships, allowed us to deliver optimal financing for this transformative project,” said Yazdi. “B3 and Gaw’s multifaceted business plan will bring a product that is much needed in the submarket and caters to the special needs of R&D tenants.”

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Colliers' Yazdi

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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