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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.”
- ◦Financing


