Countrywide Commercial Demonstrates Success in Office Property Market as Demand for Office Space Grows

CALABASAS, Calif., Sept. 19 /PRNewswire-FirstCall/ -- Countrywide Commercial Real Estate Finance announced several recent transactions today that demonstrate borrowers are turning to Countrywide Commercial to finance large office properties as national demand for office space continues to grow.

Spanning the East and West Coasts and the Southwest, these office properties serve important telecommunications, transportation and business needs in their respective communities. They also highlight the trust that borrowers place in Countrywide's brand and the expertise of local bankers in Countrywide Commercial's eight regional offices across the nation.

San Francisco, California: Digital Realty Trust

Countrywide Commercial provided a fixed rate $81 million loan to Digital Realty Trust for the acquisition of 200 Paul. This 532,000 square foot property houses important equipment for telecommunications carriers servicing the western United States and is regarded as one of the most strategically important building of its kind in the country. Charles Neirick of Countrywide Commercial's Calabasas, CA office was the banker.

Sacramento, California: Farmers Market

Countrywide Commercial provided a fixed rate $56 million loan to AREF Sacramento, L.P. for the acquisition of Farmers Market. This 376,000 square foot complex consists of three Class A office buildings and is home to the State of California's Department of Transportation engineering and accounting departments. Billy Hurst from Countrywide Commercial's Dallas office was the banker. HFF Houston's Jeff Knowles was the broker.

Hyattsville, Maryland: Prince George Center II

Countrywide Commercial provided a fixed rate $43 million loan to Herschel Blumberg for the refinance of Prince George Center II. This 394,000 square foot, 10-story building is one of four offices in Prince George Metro Center. Bill Lafferty from Countrywide Commercial's New York City office was the banker. SunTrust Bank's Larry Dendtler was the broker.

Largo, Maryland: Inglewood Park

Countrywide Commercial provided a fixed rate $43 million loan to MTM Builder/Developer, Inc. for the refinance of Inglewood Park. This seven building 536,000 square foot office park consists of two five-story office buildings, the largest tenant being Prince George's Country Government, and five one-story flex-office buildings. Alex Biagioli from Countrywide's New York office was the banker. Capmark's Fabrice Vasques was the broker.

"Countrywide Commercial has solidified its position as a major player in the commercial real estate finance business," said Boyd Fellows, managing director, Countrywide Commercial. "From larger loans like those highlighted in today's announcement to smaller Countrywide Advantage loans in the $500,000 to $5 million range, Countrywide Commercial has built a reputation for turning complex challenges into fast custom-designed solutions, delivering certainty and speed of closure, and understanding that borrowers appreciate the expertise that local bankers in local offices can offer."

Other noteworthy Countrywide Commercial transactions in the office property market include:

Wilmington, Delaware: 1201 North Market Building

Countrywide Commercial provided a fixed rate $97 million loan to 1201 North Market Street, LLC for the refinance of 1201 North Market Building. This 440,000 square foot, 23-story, Class A office building is regarded as downtown Wilmington's premiere office building. Kurt Altvater from Countrywide Commercial's San Francisco office was the banker.

San Francisco, California: Westcore Properties

Countrywide Commercial provided a $90 million floating rate loan to Westcore Properties for the acquisition of the Westcore Bay Area Portfolio. These 14 flex-office buildings in the San Francisco peninsula region total more than a million square feet. Kyle Jeffers from Countrywide Commercial's Calabasas, CA office was the banker.

Dallas, Texas: Younan Properties

Countrywide provided an $87 million loan to Younan Properties Inc. for acquisition of three Class A office buildings: North Central Plaza, Eighty-Eight Central, and 9400 Plaza. These 16- and 17-story high-rises located in the North Central Expressway submarket in Dallas. Kyle Jeffers from Countrywide Commercial's Calabasas, CA offices was the banker. Northmarq Capital's Richard Scandaliato was the broker.

For more information on Countrywide Commercial, please visit http://www.countrywidecommercial.com/.

About Countrywide Commercial Real Estate Finance, Inc.

Countrywide Commercial Real Estate Finance, Inc., a provider of fixed- and floating-rate financing for multi-family and commercial properties, is a unit of Countrywide Capital Markets, Inc. (CCM), a wholly-owned subsidiary of Countrywide Financial Corporation . Other CCM business units include Countrywide Securities Corporation, a registered broker-dealer specializing in underwriting, buying and selling mortgage-backed debt securities; Countrywide Servicing Exchange, an advisory and brokerage firm specializing in the transfer of bulk loan mortgage servicing rights portfolios between third parties; Countrywide Asset Management, a full-service company that acquires, services and manages distressed residential mortgage loan assets for rehabilitation and eventual sale; and CCM International, Ltd., and Countrywide Capital Markets Asia, Ltd., distributors of American securities in the UK and Japan, respectively.