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 in El Dorado Hills. The property totals approximately 195,906 square feet and consists of a contiguous office environment designed as a single campus.
The new financing replaces the existing senior debt on the complex and delivers additional capital that aligns with the ownership group’s broader capitalization strategy. The refinance allows the borrowers to restructure their debt stack on the asset while also accessing incremental proceeds for future ownership objectives tied to the campus.
CenterPoint Commercial Capital arranged the refinancing on behalf of the ownership. The assignment was led by Ari Raskas and Matthew Sheard, who were brought in with roughly 55 days remaining before the prior loan’s scheduled maturity. Within that compressed timeline, CenterPoint secured a bank loan for the full proceeds requested by the borrowers, meeting both the payoff requirement and the additional capital target.
According to Sheard, the current environment for office financing remains selective, which placed emphasis on identifying a lender that could underwrite the asset and execute quickly ahead of the looming maturity date. The team’s approach focused on matching the campus profile and tenancy with a bank lender comfortable with the property’s fundamentals and timing constraints.
The Ridge at Town Center EDH is anchored by Blue Shield of California, which occupies the buildings at 4203 and 4205 Town Center Blvd. The third building at 4207 Town Center Blvd. is partially leased to Patra Corporation, a provider of technology-enabled insurance outsourcing services and software solutions. This tenant mix positions the campus with a concentration of users in healthcare-related and insurance-support functions.
The transaction underscores that, despite tighter underwriting standards for office properties, lenders are still providing senior bank financing for well-leased campuses with established credit tenancy when borrowers can demonstrate a clear capitalization plan. The refinance at The Ridge at Town Center EDH illustrates how sponsors are working within short timelines to address approaching maturities while maintaining flexibility for future capital decisions.
Photo courtesy of Newmark.
