Cohen Financial has secured a $15 million refinancing for the Paradise Point Executive Center, a fully leased, multi-tenant office development in Corte Madera, Calif., north of San Francisco. The 97,410 sq. ft. property is located at 5639-5725 Paradise Drive in Marin County and houses the corporate headquarters of Restoration Hardware.
The home furnishings brand operates a multi-channel, multi-brand, and multi-market business with more than 100 stores and an e-commerce Website in the United States and Canada. The retailer also mails the Restoration Hardware Home, Outdoor & Garden, Baby & Child, and Gift catalogs to millions of consumers throughout the year.
Kenneth Fox, a managing director in Cohen Financial’s San Francisco office, originated the transaction and secured the long-term, fixed-rate financing. Terms of the loan were not disclosed.
The lender was Lincoln Financial Group, a correspondent insurance company. The borrower is a San Francisco Bay Area based real estate investor. Cohen Financial also is servicing the loan. The transaction closed on May 11.
Headquartered in Chicago, Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, investment brokerage, loan administration and advisory services. The company has offices in nine major markets.