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California  + Bay Area  + Finance  | 

Palo Alto Creative Office Lands $25M Refi

Gantry secured a $25-million loan to refinance maturing debt from the acquisition and renovation of a 38,000-square-foot creative office building located at 250 Cambridge Ave. in Palo Alto. Principal Robert Slatt, director Murphy Osborne and senior associate Joe Foley represented the borrower, a private real estate investor.

The three-year, fixed-rate loan with 30-year amortization was provided by one of Gantry’s correspondent life company lenders. Gantry will service the loan.

Slatt said, “250 Cambridge was a strategic acquisition for an experienced sponsor that completed a substantial renovation to modernize a well-positioned asset in a strong submarket for creative office space. Successful leasing and continued momentum with agreements in place for additional near-term occupancy positioned this asset to achieve a strong upside moving forward. This loan from a top life company correspondent retired existing debt from the original investment with an optimized fixed rate loan, structured to support stabilized performance with improving metrics.”

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Inside The Story

Gantry's Slatt

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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