CBRE Group Inc. has arranged $34 million in bridge financing for the recapitalization of the Valencia Corporate Plaza office property, the real estate firm announced Wednesday.
The 194,676-square-foot complex is located at 28470-28490 Avenue Stanford in Valencia.
“Recent upgrades, great building bones and its central location close to a multitude of amenities make Valencia Corporate Plaza a fantastic opportunity,” CBRE agent said Marina Massari in a statement. “With additional leasing over the term of the loan, which will add to an already desirable and high credit tenant roster, the asset will become even more attractive to investors.”
CBRE facilitated the loan for the property owner, New York-based True North Capital Management, from Amherst Capital Management, which is also based in New York. The loan has a three-year term with two extensions.