RealWebFunds Inc. completed a $5.7 million refinance loan on the 55,000-sf. three-story Sunnyvale Financial Center on July 31. Farm Bureau Life was the lender and Sunnyvale Village Associates was the borrower.
The San Ramon, Calif.-based firm also recently closed a $5.2 million deal on the 30,000-sf Duane Telecommunications Building in Santa Clara, Calif. The borrower is Duane LLC and the lender is Wells Fargo Bank. The loan provides takeout financing for the fully-leased telecommunications building.
RealWebFunds launched its business about two years ago, and went live online in January 1999. Its purpose is to simplify commercial lending, RealWebFunds president and co-founder Tom Dewar told GlobeSt.com.
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