Patewood Corporate Center

3650 REIT Provides $68.5M Refinancing Loan for Patewood Corporate Center in Greenville

by Julia Sanders

GREENVILLE, S.C. — 3650 REIT has provided a $68.5 million loan to refinance Patewood Corporate Center, a six-building, 447,000-square-foot office park located at 10-80 Patewood Drive in Greenville. Joe Hercenberg of Walker & Dunlop arranged the seven-year, fixed-rate loan through JFR Global Investments.

The financing brings 3650 REIT to approximately $301.7 million in capital deployed in 2021 year-to-date.

Built in 1985 and renovated in 2015, Patewood Corporate Center offers space at a discount to buildings located in Greenville’s urban core. The center is the closest suburban office park to downtown Greenville and is close Interstates 385 and 85, as well as Greenville-Spartanburg International Airport. The tenants are mostly engineering companies, including Raytheon Technologies and Day & Zimmermann.

3650 REIT is a Miami-based commercial real estate lender originating and servicing portfolio loans for relationship borrowers. The company has recently provided a $68 million loan to fund the acquisition of PetSmart Headquarters, which is a three-building, approximately 365,000-square-foot office complex located in Phoenix.

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