$16.7 million refinancing secured for office property in Sacramento

SAN FRANCISCO, Dec. 16, 2024 - JLL Capital Markets announced today that it has secured a $16.7 million refinancing for 100 Howe, a premier 130,000-square-foot boutique office complex in Sacramento, California.

JLL worked on behalf of the borrower, a subsidiary of Fenway Capital Advisors, and secured the five-year, interest-only loan through the lender, Goldman Sachs.

100 Howe is strategically located between the Campus Commons, Highway 50 and Sierra Oaks office submarkets of Sacramento. The property's prime location provides tenants with proximity to University Village, Howe Avenue and East and Midtown Sacramento, as well as convenient access to major freeways, public transportation and the American River Bike Trail.

Originally constructed in 1981 and comprehensively renovated in 2019, 100 Howe now stands as one of the most sought-after Class A office spaces in the area. 100 Howe offers an array of amenities designed to enhance the workplace experience. These include shared outdoor spaces, on-site lounge space and conference center and ample parking. The property showcases modern, professional-finished and highly functional suite layouts. The two-building complex boasts a 95% occupancy rate, with a diverse tenant mix, including the State of California and Mutual of Omaha.

The refinancing provides the borrower with additional runway, allowing for a strategic exit from the investment when market conditions are more favorable.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Director Olga Walsh and Vice President Bharat Madan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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