Dealmaker: Cohen Financial Secures $15.7M on West Coast

Cohen Financial’s San Francisco office secured $7.2 million to refinance a 41,000-square-foot office building on Townsend Street in San Francisco.

Kenneth Fox, managing director in the firms’ San Francisco office, originated the fixed-rate, long-term loan with Sun Life Financial, Toronto, Ontario, a Cohen correspondent lender.

The San Francisco Bay Area investor/owner borrower refinanced the three-story multi-tenant building in September. Cohen Financial also secured $8.5 million in long-term fixed-rate loans for two Portland, Ore. office properties.

Peter Norrie, managing director of Cohen Financial’s Portland office, arranged $5.2 million for Willamette Wharf, a 48,000-square-foot, two-story office building on the Willamette River in John’s Landing. He worked with a Midwest correspondent life insurance company to fund the 10-year non-recourse loan on a 25-year amortization schedule.

Norrie also secured $3.3 million for the Airport Business Center, a 37,500-square-foot single-story office/flex property one mile south of Portland International Airport for the same borrower. The five-year loan included with a 25-year amortization schedule included an option to extend the term for an additional five years. A local credit union supplied the 75 percent loan-to-value full recourse loan.