George Smith Partners Secures $41M Loan for Office Building Acquisition in Silicon Valley
LOS ALTOS, CALIF. — George Smith Partners has secured a $41 million bridge loan for the acquisition of an office property located at 5150 El Camino Real in Los Altos within Silicon Valley.
The borrower was Vahe Tashkian of Dutchints Development. The borrower plans to acquire the 71,000-square-foot office property from an institutional seller for an undisclosed price.
Malcolm Davies, Evan Kinne, Zachary Streit, Alexander Rossinsky and Rachael Lewis of George Smith Partners arranged the non-recourse loan, which features interest-only payments for the 24-month term and an 85 percent loan-to-cost ratio.