Los Angeles, California – The NNN Commercial Property news for the day is on commercial loan and insurance. A Commercial Financing deal for $50,000,000 was put together a Ground Lease. This commercial mortgage deal was on financing in Foster City, California. The commercial financing team had laid out permanent financing and arranged the loan in the amount of $50,000,000. This commercial loan was completed towards the refinance of four unsubordinated ground leases. These commercial financing recipients situated in Foster City, California should prosper.
California Commercial Non-Recourse Loans and Insurance
The Commercial Mortgage Brokers continue to invest their valuable time into the project. Eventually these prolific Commercial Mortgage Brokers put together an exclusive basis with the borrower to arrange commercial financing. This Commercial Loan has a 20 year term, great fixed rate, and the important portion for the borrower is this mortgage is a non-recourse Loan. This structured financing with a correspondent life insurance company which has the necessary resources for funding non-recourse loans.
Commercial Mortgage Brokers with Excellent Financing Terms
The Commercial Mortgage Brokers in due course went with the life insurance company for funding. This life insurance company gladly moved in and provided the commercial loan. This commercial mortgage has flexibility with the non-recourse loan as well as extremely good terms for financing.
Commercial Mortgages Secured for Ground Lease in California
This commercial non-recourse loan will be secured by the fee interest in four separate parcels of land. These California properties total 14.2 acres of valuable land. This commercial loan deal covers the property located in the master-planned development known as Metro Center. The four parcels are home to multiple Class A office buildings, a Safeway anchored shopping center and a Wells Fargo bank branch.
California Businesses in the Peninsula of the Bay Area
The California Car Insurance Company has looked into office space in this area. The prosperous Metro Center is regarded as very valuable. This Commercial Property is known by many specialists to be one of the Peninsula’s premier office addresses. As many commercial property investors and small business owners recognize, the Bay Area of California is full of opportunity if the government officials take a step back from over regulating.
Apartment property and assets Sold in San Jose, California
The next portion of Commercial Real estate news stays in the Bay Area of California. The commercial property known as the Cinnabar sold. This California commercial Investment Property is not necessarily a Distressed Commercial property. The Commercial Investment is a 144-unit apartment property sitting in San Jose. The California Property is leased and sold for approximately $25.16 million.
Krupp & Company and California Property
As a result of their own investigation team, Krupp & Company was able to identify a change in the structure of the corporation of which owned the Cinnabar Condominiums. It was All Bay Investments for this California property ownership. Even though many in the knowledgeable commercial brokerage community had been attempting to contact the ex-president of the corporation, Krupp was able to contact the right people. Krupp & Company eventually developed a relationship together with the new key person in charge to come up with excellent results.
Buying California Commercial Property and Commercial Loans
There was the venture between Pacific Urban Residential and Trecap Partners who purchased this property. This commercial investment property is located at 1580 Almaden Road. We see there is an alternate address which happens to be 1640 La Rossa Circle. Freddie Mac provided the commercial loan. This commercial financing was for $14.27 million with a fixed-rate term. This commercial loan is only requiring paying interest for the first two years. The commercial loan will then amortizes over a 30-year schedule.
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