Property Type Industrial
Financing Type Permanent
Date January 20, 2022
The 167,000-square-foot, six-building R&D complex is 100% leased to diverse roster of tenants in a multi-tenant format.
Life Company Lender Provides Permanent Financing for Long-Term Hold at Extremely Attractive Rates; Industrial and R&D Assets Are Prioritized Allocation Targets for Lenders Competing for Quality Assets
San Francisco, Calif. (January 20, 2022) – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $35 million loan for Valley Creative Center in San Jose, Calif. The 167,000-square-foot, six-building R&D complex is 100% leased to diverse roster of tenants in a multi-tenant format. The project was acquired by Redwood City-based Dollinger Properties in August 2021.
Gantry’s Tony Kaufmann arranged financing for the 10-year permanent loan with one of Gantry’s correspondent institutional life insurance company lenders. Terms of the financing included a very competitive interest rate and prepayment schedule.
According to Gantry’s Tony Kaufmann, “Valley Creative Center is positioned in the heart of Silicon Valley’s Golden Triangle submarket. The property’s medium-sized suites feature flexible floor plans that can cater to a variety of manufacturing and R&D users. This dynamic asset class profile has proven resilient over the course of the pandemic as demand for warehouse and lab spaces have increased throughout Silicon Valley.”