CBRE Arranges $111.5M Refinancing for Rancho Vista Corporate Center in San Diego
SAN DIEGO — CBRE Capital Markets’ Debt & Structured Finance group has arranged a $111.5 million loan for the refinancing of Rancho Vista Corporate Center, an office/R&D campus in San Diego. The borrower is Swift Real Estate Partners.
Mike Walker, Brad Zampa, Megan Woodring and Taylor Shepard of CBRE’s San Francisco office secured the floating-rate financing for the borrower. Annaly Commercial Real Estate served as lender.
Situated on 67.5 acres at 16399 W. Bernardo Drive, Rancho Vista Corporate Center offers a total of 816,771 square feet of office and R&D space spread across multiple buildings, including a three-story, Class A office building.
Swift Real Estate Partners acquired the campus in 2016 and has completed a $70 million transformation of the property, including upgraded building systems; added amenities, such as a fitness center and outdoor sports court facility; open-air collaboration and gaming areas; cafeteria renovation; new facades; exterior and landscaping upgrades; and increased connectivity between the buildings. The company recently completed the final stage of its repositioning strategy, which included converting Building 60 into Class A creative office space from R&D use.