California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Bay Area  + Finance  | 
Old Oakland Finds $58M Financing in Accelerated Timeframe

Old Oakland Finds $58M Financing in Accelerated Timeframe

A $58 million loan was recently originated to refinance Old Oakland, a collection of 10 historic creative office and retail properties in downtown Oakland. Madison Realty Capital sourced the transaction directly with the borrower.

The properties span two full city blocks totaling 238,305 square feet across buildings ranging two to four stories. The properties are well leased consisting of leading tenants including Chicago Title, Starbucks, Sweetgreen, Laurene Powell Jobs’ Emerson Collective, and the headquarters of Blue Bottle Coffee and ThredUp.

The property is home to the country’s oldest running open-air farmer’s market and hosts a seasonal ice rink and pop-up shops. The portfolio also includes two parking lots that can be further developed into residential, retail, office or hotel uses.

“Downtown Oakland offers a unique combination of historic buildings with buildouts designed for creative and entrepreneurial tenants,” says Josh Zegen, managing principal and co-founder of Madison Realty Capital. “Madison Realty Capital is pleased to leverage our relationship with the property owner to efficiently deliver financing in an accelerated timeframe for a high-quality portfolio of commercial properties in a high barrier-to-entry submarket.”

Connect

Inside The Story

Josh Zegen

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Financing
New call-to-action
Chase-08-cube
New call-to-action
Money360-09-cube