The recent funding of two large commercial real estate loans hashelped Technology Credit Union further establish its presence inthe Bay Area.
|The $1.7 billon Tech CU in San Jose, Calif., said it closed nearly $15 millionin CRE loans in December 2012, including a $9.5 million loan tosupport the refinancing of a multi-tenant property that is locatedin downtown Mountain View and counts Google Inc. as one of its tenants.
|The credit union also approved a $5.14 million loan to supportthe purchase of an historic South of Market, commonly known asSOMA, office building in San Francisco.
|Tech CU said it also ended 2012 with strong loan growth inresidential mortgages, closing 676 single-family member loanstotaling nearly $219 million.
|With a focus on diversifying and growing its real estate loanportfolio in 2013, Tech CU said it has also approved higher limitson residential mortgages up to $8 million and home equity lines ofcredit up to $1 million.
|“We're constantly evaluating our products, considering how wellthey satisfy members' needs in this market,” said Tech CU ChiefBanking Officer Joe Anzalone.
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