The Colliers Mortgage California Structured Finance Group has successfully secured a $33 million bridge loan for B3 & Gaw to refinance the old Bayfair Mall in San Leandro. The mall is currently undergoing redevelopment into a mixed-use retail power center and an emerging R&D campus.
Led by executive managing directors Shahin Yazdi and Jonathan Lee, along with team members Tommy Adelson and William Hyatt, the financing includes a 36-month term with optional extensions at SOFR plus 4.00%. This fully non-recourse loan structure does not require any interest, carry or completion guarantees.
According to Yazdi, this project was made possible by the sponsor’s track record of successful large-scale projects combined with their team’s strong relationships within the capital market. He also stated that B3 & Gaw’s diverse business plan will bring much-needed products to this submarket while catering specifically to R&D tenants’ unique needs.
This deal was originally reported on Connect CRE by Nellie Day on August 17th under “Colliers Arranges $33M Refi on Bayfair Mall Redevelopment.”
