El Dorado Hills Office Complex Refinanced within Tight Timeframe

ProEquity Asset Management and Solaris Capital have completed a $32.34-million refinancing of The Ridge at Town Center EDH, a three-building Class A office campus totaling approximately 195,906 square feet in El Dorado Hills. The new loan refinances the property’s existing senior debt and provides additional capital as part of the ownership group’s broader capitalization strategy.

The financing was arranged by Ari Raskas and Matthew Sheard of CenterPoint Commercial Capital. CenterPoint was engaged with approximately 55 days remaining before the existing loan’s maturity and secured bank financing for the full amount requested by ownership. “Office financing remains selective, so the focus was on finding the right lender for the asset and moving efficiently within a very limited timeframe,” said Sheard.

The Ridge at Town Center EDH is anchored by Blue Shield of California, which occupies 4203 and 4205 Town Center Blvd. The campus also includes 4207 Town Center Blvd., partially leased to Patra Corporation, a provider of technology-enabled insurance outsourcing services and software solutions.

Photo courtesy of Newmark.

Connect

Inside The Story

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).

Order Reprints