Big Property Ventures And Baskin Investment Group Secures $13.5 Million Loan For Office In Palo Alto

The property asset involved in the transaction is a three-story office building located at 384 University Avenue in Palo Alto, comprising 14,500 square feet. The asset features street-level retail alongside two office floors and is fully leased, with a permanent loan arranged for refinancing purposes.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $13,500,000
• Loan Terms: five-year, fixed-rate, first-year interest only, followed by 25-year amortization
• Address: 384 University Avenue
• Market: Palo Alto
• Landlord: Big Property Ventures & Baskin Investment Group
• Brokers: Jeff Wilcox & Joe Foley - Gantry

Notably, Gantry arranged the loan on behalf of the borrowers, Big Property Ventures and Baskin Investment Group, facilitating the refinance of this historic office building.