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Follow on Google News | Sonnenblick-Eichner Co. Secures $12.4 MM Loan to Refinance San Francisco-Area Office BuildingBy: Sonnenblick-Eichner Company The 10-year non-recourse loan was funded by an international investment bank at an interest rate of less than 4.5%. The property securing the loan is 100% leased to Ex'Pression College of Digital Arts, a fully accredited college with degree programs that include Sound Arts, Interactive Audio, Graphic Design & Motion and Digital Filmmaking. "We were able to generate significant lender interest despite the complexities associated with a Tenant-in-Common structure," said Tina Derderian, Managing Director of Sonnenblick- Located just across the Bay from downtown San Francisco, the property benefits from easy access to San Francisco, Oakland, Berkeley and Walnut Creek. University of California Berkeley is just three miles to the northwest. Emeryville is a vibrant, creative office market and the corporate home to companies including Pixar Animation Studios, Peet's Coffee & Tea, Jamba Juice and Clif Bar. "The real estate capital markets have rebounded nicely since the beginning of the year when uncertainty caused credit spreads to widen significantly," About Sonnenblick- Sonnenblick- End
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