The loan, a first of its kind, allows the Women's Recovery Association and the Shelter Network to buy a Burlingame building. The building has housed the Women's Recovery Association for seven years, but was put up for sale since the group's lease expires at the beginning of next year.
With Silicon Valley office vacancy rates below 2%, the nonprofit feared it would not be able to find other space. The loan, however, allowed the groups to meet the purchase price of $4 million.
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