Prometheus Real Estate Group Secures $145 Million Refinance Through Wells Fargo For Cupertino Office Campus

The Towers at Cupertino City Center is a two-building office campus located at 20400 and 20450 Stevens Creek Boulevard in Cupertino. The property spans 357,502 square feet and sits on 3.2 acres. It was built in 1989 and underwent renovations in 2022. The recent refinancing transaction was facilitated to support the existing loan obligations of the asset, with financing totaling $145,000,000 secured through Wells Fargo.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $145,000,000
• Market: Cupertino
• Lender: Wells Fargo
• Landlord: Prometheus Real Estate Group
• Brokers: Nate Prouty, Andrew Slaton & John Holt - NorthMarq
• Loan Type: Refinance
• Asset Size: 357,502 square feet
• Acres: 3.2

NorthMarq arranged the refinancing deal for the property, with Nate Prouty, Andrew Slaton, and John Holt representing the transaction. This team engaged with both the landlord, Prometheus Real Estate Group, and the lender, Wells Fargo, ensuring the deal progressed smoothly through the refinancing process.