A joint venture comprising East West Partners, CBC Real Estate, and Affinius Capital has secured a USD 141 million loan to refinance an office complex in Raleigh, North Carolina. This 535,000-square-foot complex serves as the global headquarters for Bandwidth, a publicly traded technology company. Cantor Fitzgerald provided the financing, which was structured as a single-asset, single-buyer Commercial Mortgage-Backed Securities (CMBS) issuance.
The transaction was arranged by Peter Gevalt, Daniel Mizukovski, Barclay Lynch, and Jeremy Schwartz of Wells Hill Partners. Daniel Mizukovski, a partner at Wells Hill, stated that his firm has collaborated with East West Partners multiple times over the past 43 years. He added that they were pleased to have successfully executed such a valuable refinancing for this prime asset and its owners.
Details of Bandwidth Headquarters
The office complex, located at 2230 Bandmate Way in Raleigh, N.C., opened in 2023 after a two-year construction period. The property spans almost 24 acres and is currently 100 per cent leased to Bandwidth. According to CBS News, the headquarters accommodates over 1,000 Bandwidth employees and includes 100 conference rooms.
The total area of the complex is divided into several usage zones, providing comprehensive infrastructure for employees.
- —450,000 square feet of office space
- —30,000 square feet of fitness facilities
- —A 30,000-square-foot Montessori school for on-site childcare
- —15,000 square feet of event space
Significance of the Transaction
This refinancing underscores the continued attractiveness of high-quality office properties with strong tenants, even in a dynamic market environment. The provision of CMBS financing of this magnitude by Cantor Fitzgerald signals confidence in the long-term stability of the asset and the creditworthiness of the tenant, Bandwidth.
