Capital Access Group provides $7.9 million in total project financing for Byron Renfro, CEO, and Joe Lewis, President and Founder, of Orchard Commercial to purchase a 36,000 sq. ft. office and warehouse
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.
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.”
To read the press release online, click here.