333 University Ave., Suite 200, Sacramento, CA 95825
916-565-7487 Office | 916-565-7432 Fax
Managing Director Jeff Glenn recently closed an $18,019,000 loan specific to the State of California, Department of General Services. This 118,217 square foot Class A office property houses the headquarters of Covered Care.
The tenant has the option to vacate at any time after 18 months. From a lender’s perspective, we needed to be able to provide a compelling story as to why there was very little risk in placing debt on the subject property.
Ultimately, after presenting loan submission packages to 22 lenders, we were successful in identifying the one lender who was willing to offer the borrower’s a 75% loan-to-value.