JLL Capital Markets led the financing efforts for 100 Howe, located in the highly desirable Campus Commons submarket of Sacramento
News release
15 December 2024
$16.7 million refinancing secured for office property in Sacramento
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SAN FRANCISCO, Dec. 16, 2024 – JLL Capital Markets announced today that it has secured a $16.7 million refinancing for 100 Howe, a premier 130,000-square-foot boutique office complex in Sacramento, California.
JLL worked on behalf of the borrower, a subsidiary of Fenway Capital Advisors, and secured the five-year, interest-only loan through the lender, Goldman Sachs.
100 Howe is strategically located between the Campus Commons, Highway 50 and Sierra Oaks office submarkets of Sacramento. The property’s prime location provides tenants with proximity to University Village, Howe Avenue and East and Midtown Sacramento, as well as convenient access to major freeways, public transportation and the American River Bike Trail.
Originally constructed in 1981 and comprehensively renovated in 2019, 100 Howe now stands as one of the most sought-after Class A office spaces in the area. 100 Howe offers an array of amenities designed to enhance the workplace experience. These include shared outdoor spaces, on-site lounge space and conference center and ample parking. The property showcases modern, professional-finished and highly functional suite layouts. The two-building complex boasts a 95% occupancy rate, with a diverse tenant mix, including the State of California and Mutual of Omaha.
The refinancing provides the borrower with additional runway, allowing for a strategic exit from the investment when market conditions are more favorable.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Director Olga Walsh and Vice President Bharat Madan.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fenway Capital Advisors
Fenway Capital Advisors, LLC is a Solana Beach and Dallas-based, real estate investment company, committed to delivering the maximum return for private and institutional investors. Formed in 1999, Fenway owns, leases, and professionally manages office, industrial, and multi-family properties and land in California, Nevada, Arizona, and Texas, and is pursuing additional opportunities in other Western US markets.
About Goldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.