CBRE arranged $26 million in acquisition financing for 5020 and 5070 Brandin Ct. in Fremont, two fully leased industrial and advanced manufacturing buildings totaling 132,856 square feet. The firm’s Mike Walker and Brad Zampa secured the floating rate, non-recourse loan from an East Coast-based institutional real estate lender on behalf of Berkeley Partners. Vincent Machado, Vincent Scott and Anthony Podesta represented Berkeley Partners in the off-market acquisition.
“This financing reflects the strength of Fremont’s industrial fundamentals and the property’s exceptional location,” said Walker. “With in-place rents well below market, the asset presented a compelling value-add lending opportunity in a high-demand submarket.”
Added Machado, “This acquisition continues Berkeley Partners’ growth in the Bay Area and complements their Fremont Industrial portfolio.” Built in 1983, the two properties were recently renovated with new roofs and HVAC.
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