Menlo Park Tech Center
Menlo Park, CA
September 1, 2020
The 31,164-square-foot R&D asset is located at 3565 Haven Avenue in Menlo Park and is 85% leased.
Gantry, the largest independent commercial mortgage banking firm in the U.S., secured a $7,250,000 loan for Menlo Park Tech Center in Menlo Park, CA. The 31,164-square-foot R&D asset is located at 3565 Haven Avenue in Menlo Park and is 85% leased.
Gantry’s Mitchel Zeemont and Tony Kaufmann represented the borrower in refinancing their existing loan on the property with a new 5-year, 30-year amortization loan with Securian Asset Management. The borrower wanted a 5-year fixed-rate option from a balance sheet lender with flexible prepayment and Securian stepped up and put forth a great non-recourse quote with a considerably low rate. Although the property is currently experiencing a vacancy, Securian was comfortable with the borrower’s track record and the stellar, infill location of the collateral, just minutes away from ingress/egress to HW-101 in Silicon Valley.