Carlsbad CA— CBRE Capital Markets’ Debt & Structured Finance team has arranged a $16 million loan on behalf of ZMI Real Estate, LLC for the refinance of Carlsbad Commerce Center. The single-story, ten building office and flex campus consists of 145,759 square feet in Carlsbad, California.
CBRE’s Mark McGovern, Scott Peterson and Brian Cruz secured an aggressive five-year loan through Aetna Life Insurance Company in order to pay off the existing mortgage which was coming due in September.
Carlsbad Commerce Center located at 2185-2237 Faraday Avenue in Carlsbad, is situated on 11.06 acres and is managed by Peregrine Realty Partners. The property is a mixture of office, creative office and flex units with varying build-outs and offers quick access to the I-5, El Camino Real and Palomar Airport Road. The campus was built between 1984-1986 and renovated in 2004. The 10 building property is currently 91.3 percent leased—some notable tenants include Advanced Brain Monitoring, SabreSciences,Inc., and GIMDx,Inc.