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CYPRESS, CALIF. — A 285,000-square-foot office/R&D building in Cypress has received $27 million in permanent financing. The non-recourse debt features an interest rate in the low 4 percent range and a 20-year term. The borrower, a privately held entity, used the funds to refinance the existing principal balance, as well as generate capital for its commercial real estate portfolio. Kevin Burkhalter of Johnson Capital's Los Angeles office arranged the loan.