SAN FRANCISCO-NorthMarq Capital's Dennis Sidbury, senior vice president-San Francisco office, has arranged a $200 million financing of a six-building portfolio in the Silicon Valley. Five properties, comprising more than 500,000 sq. ft., are occupied by Microsoft and used as the company's primary campus in the Silicon Valley. The sixth building, a 211,000 sq. ft. office building in Cupertino, CA, is leased to Apple. Brian Esquivel, senior analyst-NorthMarq's San Francisco's office, assisted in the transaction.
The borrowing entities are all controlled by Carl Berg who developed the Microsoft campus in 1999 and the Apple property in 1981. Financing was arranged through Prudential Mortgage Capital Company for a 130-month term.
“These are high-profile assets in the market” said Sidbury. “Prudential worked closely with us to finalize the loan before year-end and provided very attractive terms and service, driven by the strong credit and excellent market locations. The borrower is very happy with the outcome.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
