Venture West Funding Arranges $19,500,000 Loan for Tucson, AZ Office Building
EL SEGUNDO, Calif., January 09, 2023–(BUSINESS WIRE)–Venture West Funding, a commercial mortgage brokerage firm headquartered in El Segundo, CA, announced it has arranged the $19,500,000 refinance of the Cambric Corporate Center office building at 1730 -1880 E River Road, Tucson, AZ. The 167,000 SF center is conveniently located off the SW intersection of E River Rd and N Campbell Ave, providing easy access to the greater Tucson metro. The office building was built in 1985 and contains a new on-site fitness center and a new state of the art computer operated energy management system. The property is 94% occupied and is within walking distance to high-end boutique stores and restaurants.
The majority owners are the principals of West Coast Capital Partners, a diverse real estate investment company based in Phoenix, AZ and Torrance, CA.
Matt Douglas of Venture West Funding arranged the financing with First Fidelity Bank out of the Phoenix office. The 5-year fixed loan features a flexible pre-payment penalty and is non-recourse to the borrower. According to Mr Douglas, “First Fidelity helped structure the perfect loan for our client and closed in less than 45 days.” The Venture West team worked diligently with the Borrower and lender to ensure a successful refinance.
Venture West Funding was founded more than 25 years ago and has placed over $12 billion in loan originations in the past 20 years. Venture West Funding is one of the largest firms of its kind operating throughout Southern California and specializes in providing mortgage secured loans by apartment buildings, commercial properties, and single-family homes to a wide variety of borrowers. Venture West Funding is headquartered at 2321 Rosecrans Avenue, Suite 1255, El Segundo, California 90245.
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Venture West Funding
Matt Douglas, 310-706-4462