CBRE Capital Markets arrange $23.1 million of permanent financing for One and Two Carlson Parkway Buildings in Plymouth.
July 9, 2015
By Adam Voge. Article originally published at www.finance-commerce.com.
The Minneapolis office of CBRE Capital Markets arranged $23.1 million of permanent financing for the One and Two Carlson Parkway buildings, the company announced Thursday.
A CBRE team respresented the borrower, Carlson Real Estate Co., in paying off their current debt and obtaining permanent financing. The loan is at a sub-4-percent rate.
"We are very pleased with the outcome of the financing, as it allows us to fix the rate on some of the assets we are holding for the long term," Kim Hofstede, vice president of Carlson Real Estate, said in a prepared statement.
CBRE arranged the loan through its relationship with RGA Reinsurance Company.
"As a new lending entrant to the Minneapolis-St. Paul marketplace, RGA wanted to lend on high-quality assets with exemplary sponsorship," Doug Seylar, of CBRE, said in a prepared statement. "RGA separated themselves from the market by providing exceptionally aggressive pricing, flexible prepayment terms and a streamlined rate lock and closing process."
Seylar, Murray Kornberg, Scott Larson and Ben Bastian, all of CBRE, arranged the financing.