Tuesday, June 25, 2013

HFF arranges $300 million financing for 59-building office portfolio in Silicon Valley


Part of Silicon Valley Portfolio, Silicon Valley, CA

Eric Tupler
SAN FRANCISCO, CA – HFF announced today that it has arranged $300 million in financing for a 59-building office/R&D portfolio totaling 2.4 million square feet throughout the Silicon Valley.

Working on behalf of a joint venture between two global investment managers, HFF placed the four percent, floating-rate loan with Blackstone Mortgage Trust, Inc.  Proceeds were used to refinance existing debt.

Bruce Ganong
The 59-building portfolio encompasses three business parks and 38 standalone office buildings in five submarkets throughout the Silicon Valley – Mountain View, Sunnyvale, Santa Clara, San Jose and Milpitas. 

The portfolio is more than 80 percent leased to a diverse mix of tenants including Apple, SanDisk, The McGraw-Hill Company, Intel and Netflix.

 Constructed between 1959 and 2000, the properties have been institutionally maintained and are well suited to serve as corporate headquarters providing tenants with high visibility and abundant parking.

Chris Gandy
The HFF team representing the borrower was led by senior managing directors Eric Tupler and Bruce Ganong, director Chris Gandy and associates Leon McBroom and Ed Brown.

“This financing was an integral component of the overall portfolio strategy, which also included the recent HFF executed sales of Park Square and Marriott Business Park in Santa Clara. 

The Blackstone team provided a customized financing solution that complements the portfolio strategy, and they worked tirelessly to meet our client’s condensed timeline,” commented Ganong .

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



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