The loan is secured by the building itself, a fully-occupied 227,870 square foot Class B office/ R&D campus located in Santa Clara, California, where office and R&D vacancies are both less than 2%.
San Francisco-based Sagamore Equities LLC has acquired in the last year over $125 million in office/R &D. Through a wholly owned affiliate, it also manages approximately 12 million square feet of commercial property throughout Northern and Southern California.
GE Capital Real Estate, a division of General Electric Co. headquartered in Stamford, Conn., provides commercial real estate capital through Structured Finance, Equity and Capital Markets products with a portfolio of over $18 billion.
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