East Bay Medical Office Lands $38.5M in Financing
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EmeryStation Greenway, a recently completed, 100k SF medical office building in Emeryville landed the money, and HFF director Jordan Angel (here with the Giants' World Series trophies) tells us there are a lot of opportunities on existing assets and new developments in the East Bay. He says all the chatter about interest rate hikes has motivated long-term owners to seek 10-plus year fixed-rate loans. Jordan and HFF senior managing director Bruce Ganong arranged the financing for Wareham Development. HFF placed the fixed-rate loan with Thrivent Financial for Lutherans.
The four-story, state-of-the-art medical office building is at 5800 Hollis St in the East Bay biotechnology research and innovation corridor not far from interstates 580, 880 and 980. The project features outdoor decks and a stepped back façade along the Greenway, which includes a water feature and a bronze sculpture called "All Together Now" by Frederick Gelb.