Curated News
By: NewsRamp Editorial Staff
August 21, 2025
Priority Capital Secures $12.75M Auto Plaza Refinance Amid Economic Challenges
TLDR
- Priority Capital Advisory secured $12.75 million in non-recourse financing for Nearon Enterprises, providing strategic advantage in challenging market conditions.
- The financing process involved multiple regional bank proposals and thorough evaluation to select a long-term lending partner for the auto dealership complex.
- This recapitalization supports a fully occupied automotive complex, preserving local businesses and employment in the Fremont community.
- The 14.8-acre Newark Auto Plaza features three buildings with showrooms and service centers, strategically located near Silicon Valley with 800 feet of freeway frontage.
Impact - Why it Matters
This financing demonstrates how specialized financial advisory firms can navigate complex economic conditions to secure crucial capital for commercial real estate, particularly in the automotive retail sector. For readers, it highlights the resilience of commercial real estate financing even during trade tensions and macroeconomic uncertainty, showing that well-positioned properties with strong tenants can still attract significant investment. The success of this deal suggests continued confidence in California's commercial real estate market and provides insight into how businesses can secure financing for specialized properties despite challenging market conditions.
Summary
Zachary Streit, Founder and President of Priority Capital Advisory, has successfully arranged $12.75 million in senior debt financing for the recapitalization of Newark Auto Plaza on behalf of borrower Nearon Enterprises. The multi-tenant automotive dealership complex, strategically located at 39700-39750 Balentine Drive and 5623-5633 John Muir Drive in Fremont, California, spans 14.8 acres and features three buildings totaling 110,540 square feet with both showrooms and service/repair centers. The property is fully occupied by Fremont Ford, Winn KIA of Fremont, and Cruise America RV, positioned just 20 minutes from San Jose and Silicon Valley with direct I-880 Freeway access.
The financing process presented unique challenges due to changing macroeconomic conditions and recent tariff announcements affecting trade tensions. Streit emphasized that securing non-recourse financing for this specialty retail property required navigating multiple proposals from regional banks before selecting a lending partner positioned for long-term support. Blaine Emmons, EVP/CFO of Nearon Enterprises, praised Priority Capital's patience and diligence in finding the right lender during this complex process. This transaction adds to Priority Capital Advisory's impressive track record of over $500 million in debt financing across 23 transactions since its inception just over a year ago.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Priority Capital Secures $12.75M Auto Plaza Refinance Amid Economic Challenges
