3650 REIT, a nationwide commercial real estate lender, announced June 1 it has originated a $68.5 million first-mortgage loan to refinance Patewood Corporate Center, a 447,000-square-foot office park consisting of six buildings on Patewood Drive in Greenville.
The loan was arranged by Joe Hercenberg of Walker & Dunlop Inc. and carries a term of 84 months.
“3650 continues to see opportunity in well-located office assets bolstered by strong sponsors as employees return to an in-person office environment,” said 3650 REIT co-founder and managing partner Toby Cobb. “As a suburban office complex, Patewood Corporate Center has a significant advantage over office properties located within Greenville’s urban core, accommodating commuters with flexible work schedules living in the area. We at 3650 look forward to building upon our recent investments with pipeline opportunities across various asset classes.”
3650 has provided approximately $301.7 million in capital deployed in 2021, including a $68 million loan to fund the acquisition of PetSmart Headquarters, a three-building, 365,000-square-foot office complex located in Phoenix, Arizona.
