Seniors Housing Business Comerica Bank has provided $70 million of financing for the construction of Avenida Folsom, a 154-unit age-restricted apartment property in Folsom, Calif. Cushman & Wakefield arranged the financing on behalf of the developer, Avenida Partners of Newport ...
Mountain G Enterprises has bought the 102,750-square-foot Natoma Station Corporate Center in Folsom, Calif., for $23.7 million, or $230.66/sf. The two-story building is fully leased to tenants that include Allstate and DeVry University.
95 percent occupied. The buyer has lined up a $41.6 million Fannie Mae loan from Walker & Dunlop against the property. The 10-year mortgage pays a 3.85 percent coupon and requires only interest payments for its full term.
84.8 percent leased. Phillips Edison has assumed a $7.2 million mortgage against the property.
CommonWealth will assume about $41.3 million in mortgage debt as part of the deal.