CBRE arranged $147.5 million in financing for 750 Moffett, a newly completed 221,788-square-foot Class A office property in Mountain View. The building is fully leased to an investment-grade technology company.
A CBRE Debt & Structured Finance team led by Mike Walker, Brad Zampa and Andy Gross, arranged the financing on behalf of Genesis Commercial Capital and JR-AMC. The non-recourse financing combined senior debt and Commercial Property Assessed Clean Energy (C-PACE) financing to refinance existing debt prior to loan maturity.
“The financing demonstrates continued capital availability for high-quality office assets with strong tenancy and long-term income characteristics, even as lenders maintain disciplined underwriting standards,” said Walker, an EVP with CBRE.
Located near Moffett Park in Mountain View, 750 Moffett is a LEED Platinum-certified office building designed to meet the evolving needs of leading technology occupiers. The property is positioned within one of Silicon Valley’s leading innovation corridors, according to CBRE.
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