SAN JOSE, Calif. Technology CU reported a surge in member business lending, closing $15 million worth of commercial real estate loans in December.
December MBLs included a $9.5 million loan to support the refinancing of a multi-tenant property that is located in downtown Mountain View (in which Google is the major tenant) and a $5.14 million loan to support the purchase of an historic SOMA office building in San Francisco.
“The funding of these two loans further establishes our presence in the Bay Area commercial real estate market,” said Joe Anzalone, chief banking officer for the $1.5-billion credit union. “In every corner of the Bay, Tech CU is an excellent choice for those looking for a well-diversified financial institution with whom they can build a relationship on multiple levels.”
Tech CU said its commercial real estate loans can be used for real estate acquisition and refinancing, including: owner-occupied and investor-owned office, mixed-used properties, warehouse, light industrial, retail and multi-family properties.