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Quantum Capital Arranges $47M Refinancing for Mixed-Use Project

CULVER CITY, CALIF. — Quantum Capital Partners has arranged $47 million in refinancing for Platform, a 75,000-square-foot office and retail property located in the Hayden Tract district of Culver City. The borrower, Runyon Group, will use the proceeds to retire construction debt and equity on the property, which was completed in late 2016. Mike Yim and Jonathan Hakakha of Quantum arranged the 10-year, non-recourse loan through Wells Fargo for the borrower. The 75,000-square-foot project..

February 17, 2017

Davis Holdings Purchases 33,000 SF Loft Office Building in Houston

HOUSTON — Davis Holdings has acquired a fully occupied office building located at 1500 McGowen St. in Houston. Skyland Lodge Tract sold the 33,000-square-foot property for an undisclosed price. Originally built in 1972 and renovated in 2002, the two-story, Class B office building features loft-style office space with modern building systems. Louis Rosenthal of JLL represented Davis Holdings, while David Husid and Brandi McDonald of Newmark Grubb Knight Frank represented the seller in the..

February 17, 2017

Bernard Financial Arranges $21.1M Loan for Refinancing of Office Property in Troy, Michigan

TROY, MICH. — Bernard Financial Group has arranged a $21.1 million loan for the refinancing of an office property in Troy, a northern suburb of Detroit. The multi-tenant complex consists of 149,976 square feet. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Liberty Investments LLC. A CMBS firm provided the loan.

February 17, 2017

GHD Services Signs 24,480 SF Office Lease in Farmington Hills, Michigan

FARMINGTON HILLS, MICH. — GHD Services has signed a 24,480-square-foot office lease in Farmington Hills, west of Southfield. The company provides engineering, architecture, environmental and construction services for the water, energy, environment, property and transportation sectors. GHD will be located at 26850 Haggerty Road. John Fricke and Greg Hudas of Signature Associates represented the landlord, Michigan Five Office LLC, in the lease transaction. CBRE represented the tenant.

February 17, 2017

Lowe, Family Office Buy Four-Building Office Portfolio in Sacramento

SACRAMENTO, CALIF. — A joint venture between Lowe Enterprises Investors (LEI) and The Family Office (TFO) has acquired Gateway Center, a four-building office portfolio in  the South Natomas area of Sacramento, for an undisclosed sum. Gateway Center is located along Interstate 5 near the Interstate 80 interchange. The JV plans to update the properties, including lobby renovations, landscape and lighting improvements, and upgrades to conference rooms, common areas and outdoor gathering..

February 16, 2017

PSI Services Leases 23,589 SF of Office Space in Glendale

GLENDALE, CALIF. — PSI Services has leased 23,589 square feet of office space in Glendale. The Class A space is located at 611 N. Brand Blvd. PSI committed to an 11-year lease. The company is relocating its corporate headquarters from 17,308 square feet at 2950 N. Hollywood Way in Burbank. Jacob Bobek of Avison Young represented PSI in the deal. Jones Lang LaSalle represented the landlord, LNR Partners.

February 16, 2017

Spotify Relocates to 378,000 SF of Office Space at 4 World Trade Center in Lower Manhattan

NEW YORK CITY — Spotify, a digital music service, is relocating its U.S. headquarters to 4 World Trade Center in Lower Manhattan from its current location in Midtown South. The company will occupy 378,000 square feet at the office building, which is owned by Silverstein Properties. Spotify is expected to move in early 2018. The relocation and expansion will accommodate more than 1,000 new jobs as well as 832 existing jobs.

February 16, 2017

PSRS Provides $54M in Acquisition Financing for Seattle Office Park

SEATTLE — PSRS has provided $54 million in acquisition financing for a 324,287-square-foot office campus in Seattle. The borrower was not disclosed. The loan features a three-year term and a 25-year amortization schedule. The loan was placed with a life insurance company. It was structured by PSRS’s Antonio Hachem.

February 15, 2017

Renovate America Leases 160,000 SF at Rancho Vista Corporate Center in San Diego

SAN DIEGO — Renovate America has leased 160,000 square feet of office space at the Rancho Vista Corporate Center in the San Diego submarket of Rancho Bernardo. The center is located at 16409 W. Bernardo Drive. The seven-year lease was one of the largest signed in San Diego in 2016, according to CBRE. CBRE represented both the landlord, Swift Real Estate Partners, and Renovate America in the transaction.

February 15, 2017

Insite Properties, Northridge Capital to Develop Five-Story Office Project Near Uptown Charlotte

CHARLOTTE, N.C. —Insite Properties plans to develop The Refinery, a five-story office development located at 1213 W. Morehead St. near Uptown Charlotte. Insite’s joint venture partner on the development is Washington, D.C.-based Northridge Capital LLC. Situated a half mile from Bank of America Stadium, The Refinery will span 105,000 square feet of office space and feature a connected parking structure, rooftop indoor/outdoor conference center, first floor showers and lockers, community..

February 15, 2017