CBRE Capital Markets’ Debt & Structured Finance team has successfully secured a $37.75 million loan to refinance 101 Redwood Shores, a premier Class A office building situated in the heart of Redwood City. The sponsor, Diamond Investment Properties, was represented by CBRE’s Northern California Capital Markets Institutional Properties team led by EVP Mike Walker and Brad Zampa. The loan was originated by a Chicago-based financial institution.
According to Walker, the property’s modern amenities and prime location were key factors in securing an attractive outcome for this transaction. He also noted that financing office assets requires creativity due to current market challenges but achieving an optimal balance sheet execution with competitive pricing and proceeds is considered a win for both parties involved.
The 100,000-plus-square-foot office building at 101 Redwood Shores is fully leased to Zuora for approximately five years and boasts easy access off U.S. Highway 101 on the San Francisco Peninsula.
