Silicon Valley Bank recently made an $11.7 million mortgage on two contiguous industrial properties in Sunnyvale, Calif., with help from Bridger Commercial Funding, a San Francisco conduit lender.

David Clower, a vice president in Silicon Valley's real estate group, said the bank had financed the purchase and renovation of the buildings with short-term, floating-rate loans. The bank prefers not to hold long- term, fixed-rate real estate loans, he said.

Bridger funded the loan and will hold it on its books and securitize it. Were it not for its partnership with Bridger, Silicon Valley would have lost the permanent loan to another lender, Mr. Clower said.

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