Silver Creek Secures $31.4 Million Bridge Loan From Obra Real Estate For Office Property In Gilbert AZ

The asset is a single-tenant office property located at 1715 West Elliot Road in Gilbert, Arizona. The property comprises 120,294 square feet and is fully leased to Northrop Grumman. Silver Creek Development secured a refinancing loan amounting to $31.4 million from Obra Real Estate for this office building, which was acquired in 2021 for $43.1 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $31,400,000
• Lender: Michael Bachenheimer - Obra Real Estate
• Landlord: Franck Ruimy - Silver Creek
• Brokers: Morris Betesh, Eliott Zeitoune, Alex Bailkin, Andrew Rosenberg - Arrow Real Estate Advisors
• Loan Type: Refinance

The financing was arranged by Arrow Real Estate Advisors and closed in under 30 days. Silver Creek Development was involved in this transaction as the landlord and secured the bridge loan to facilitate the refinancing process.