Refi of $200M Arranged for Microsoft and Apple Properties

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.