The loan financed the purchase of a 300,000-sf class A office tower at 180 Montgomery St. Greenwich is not disclosing the buyer precisely, but described the entity as "a special purpose affiliate of the Martin Group."
Martin Group officials were not immediately available for comment, but the company is known to have a Bay Area portfolio valued at more than $1.5 billion. Its holdings are in San Francisco, Emeryville and Redwood City.
Kent Daiber, Greenwich's senior vice president of the Commercial Assets Group, says the entire transaction took less than 60 days to complete. The non-recourse loan has an initial maturity of three years and is extendable to five.
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