Orchard Commercial Inc. Expands in Silicon Valley With $7.9M Office-Warehouse Building Purchased Through Financing From Capital Access Group and the SBA 504 Commercial Loan Program
"We know real estate, and we know a good deal when we see one." - Byron Renfro, CEO of Orchard Commercial Inc.
SAN FRANCISCO, May 1, 2018 (Newswire.com) - Capital Access Group (www.capitalaccess.com), a San Francisco-based commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, recently helped Byron Renfro, CEO, and Joe Lewis, President and Founder, of Orchard Commercial to secure $7.9 million in total project financing to purchase a 36,000 sq. ft. office and warehouse building at 3350 Thomas Road, Santa Clara, CA. This is Orchard’s second SBA 504 loan from Capital Access Group. Capital Access helped the company acquire a 49,269 sq. ft. building at 2055 Laurelwood Road in 2011.
In business for over 40 years, Orchard Commercial is an award-winning, integrated real estate company. that offers property management, accounting, leasing, engineering, and construction services to clients and tenants throughout the Bay Area. Orchard’s founder, Joe Lewis, has also won multiple awards for his contribution to the CRE industry, including the 2016 Association of Silicon Valley Brokers Michael Murphy Award for outstanding and dedicated service to the community.
We know real estate and we know a good deal when we see one, so we like the ability to get 90 percent financing because it frees up cash to invest in our buildings. The loan terms are very favorable for us.
Byron Renfro, CEO, Orchard Commercial
Orchard currently manages 14.5 million sq. ft. of commercial real estate in Silicon Valley, the East Bay, and on the Peninsula. The new facility will enable the business to lock in its future occupancy costs and further expand its operations.
“The new property gives us flexibility,” said Byron Renfro, CEO, Orchard Commercial. “As our business expands, the new building allows us to expand with it.”
As experts in the real estate industry, Orchard Commercial was familiar with the SBA 504 loan program and had worked previously with Capital Access Group when they purchased a 49,000 sq. ft. building at 2055 Laurelwood Road in Santa Clara.
“We know real estate and we know a good deal when we see one, so we like the ability to get 90 percent financing because it frees up cash to invest in our buildings,” said Renfro. “The loan terms are very favorable for us.”
When Orchard Commercial decided to expand and purchase the building on Thomas Road, they didn’t hesitate to contact Capital Access Group for help securing another SBA 504 loan.
“Claudia (Cohen) and the rest of the team are very good to work with,” said Renfro. “The whole team has been dynamic and very responsive to our needs. It’s been a great relationship for us.”
“We value and appreciate our relationship with Byron and his team at Orchard Commercial,” said Claudia Cohen, Senior Vice President, Capital Access Group. “It’s been a pleasure to support them through two SBA 504 loans. The loan will give Orchard and their employees room to grow.”
About Capital Access Group: Capital Access Group is a leading statewide Certified Development Company based in San Francisco, authorized by the U.S. Small Business Administration to provide long-term, fixed-rate financing through the SBA 504 loan program, which offers 90% financing to business owners for the purchase, renovation, or construction of commercial real estate for their growing businesses. Founded in 1981, Capital Access Group has helped thousands of entrepreneurs grow their businesses and realize their dreams of owning their own buildings. Currently, the SBA 504 interest rate is 5.03%, fully amortized and fixed for 20 years. For more information, please visit www.capitalaccess.com.
Source: Capital Access Group
