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SAN MATEO, CALIF. — HFF has secured a $15 million loan for the renovation of The Baywood, a 26,157-square-foot retail and office building in San Mateo.
Chris Gandy of HFF arranged the three-year, floating-rate loan through a national bridge lender on behalf of the borrower and developer, B St Development. Proceeds of the loan will be used to remodel the façade and will add a third floor totaling approximately 5,000 square feet of rentable space.