With the recent closing of a $3 million residential constructionloan, Technology Credit Union said it is continuing to becomeactive in the Bay Area's commercial real estate market.

The $1.7 billion credit union in San Jose, Calif., said itslatest loan was provided to an entity owned by private investmentfirm Menlo Capital Group to fund the construction of a four-unittownhouse development in Menlo Park.

“We worked with Tech CU on a complementary piece of business last year and wereimpressed with their service and the way they structured our deal,”said Menlo Capital Group Principal Sunil Suri.

He added, “They were flexible and expedient, which are both keyto us being able to move forward on projects. When it came time tofinance the Menlo Park townhouse units, it just made sense to workwith their team again.”

Robert Sherrard, Tech CU's senior vice president of commercial real estate, said this latest deal showed how thecredit union is becoming more active in the Bay Area's real estatemarket for commercial and residential construction, especiallyinfill development projects.

Tech CU said it ended the second quarter of 2013 with strongloan growth in residential mortgages underwriting a total of 274single-family loans for its members totaling nearly $105 millionfrom January through June of this year.

In March, the credit union said it closed on a $9.5 million loan to supportthe refinancing of a multi-tenant property that is located indowntown Mountain View, Calif., and counts Google Inc. as one of its tenants and approved a $5.14 millionloan to support the purchase of an historic South of Market officebuilding in San Francisco.

In addition to be one of the largest credit union mortgagelenders in the country, Tech CU said it also focusing on diversifying its real estateloan portfolio to enhance its ability to serve its members in allaspects of their lives.

Tech CU said its real estate loans can be used for real estateacquisition, refinancing and construction, including owner-occupiedand investor-owned commercial properties, mixed-used properties,warehouse, light industrial, retail, residential and multi-familyproperties.