$10.25 Million Suburban Office Refinancing Arranged by IPA Capital Markets
Aug 04, 2016

THOUSAND OAKS, Calif., Aug. 4, 2016 – Institutional Property Advisors Capital Markets (IPA Capital Markets), a leading provider of debt and equity placements and advisory solutions for major investors, has arranged $10.25 million in refinancing for a three-building, 106,120-square-foot office and retail complex in Thousand Oaks, California.

“The IPA Capital Markets team worked with the borrower to find the best debt structure for this asset in 2006,” says Jake Roberts, IPA senior vice president capital markets. “Based on that experience, our client was confident that we could bring the best financing to the table and close in a timely fashion.”

Roberts and Anita Paryani Rice, IPA vice president capital markets, arranged the loan.

“The market for suburban office assets in Thousand Oaks can be a bit soft, and during the loan term, the property had a good amount of rollover,” adds Rice. “Sourcing the right lender and mitigating risk were essential.”

The refinancing was structured with two years of interest-only debt, a 10-year term amortized over 30 years with interest fixed at 4.32 percent. The loan-to-value is 65 percent.