Arch Companies has closed on a $5.75 million refinance loan from Valley Strong Credit Union for their 30,000-square-foot office property Wells Fargo, Bakersfield. The property is fully leased to Wells Fargo and is one of two Arch properties in California. The financing is a partnership between Arch and MBARK Global.
“We acquired this property in 2018 and it continues to represent an excellent investment opportunity,” said Jared Chassen, Founder and Partner, Arch Companies. “Refinancing will allow us to optimize our position in the dynamic, growing Bakersfield market during an advantageous lending cycle.”
About Arch Companies
Arch Companies is a vertically integrated real estate owner, operator, and developer with an active investment portfolio of more than 3.4 million square feet across the United States. Founded in 2017 by Jeffrey Simpson and Jared Chassen, Arch specializes in real estate investment, development, and management with a concentration on primary and secondary markets. The company has three investment verticals, value add multi-family, ground up development and white knight capital. Arch differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with partners. Arch’s vertically integrated platform allows for complete control and oversight of the business plan throughout the life cycle of the investment.
By: City Biz