Thursday, July 19, 2018

HFF announces $250 million financing for office and hotel mixed-use development in the San Francisco Bay Area

Rendering of planned Ameswell Mountain View mixed-use development, Mountain View, CA

 SAN FRANCISCO, CA –– HFF announces the $250 million capitalization for the development of Ameswell Mountain View, a fully entitled, mixed-use project comprising a 255-room upscale, independent hotel and a 216,700-square-foot Class A, LEED-Platinum office building in Mountain View, California.

Bruce Ganong
The HFF team worked on behalf of the developer, Broadreach Capital Partners, LLC, to arrange a joint venture equity partnership with Rockwood Capital, LLC.  Additionally, the HFF team worked on behalf of the parties to secure the $140 million construction financing with Wells Fargo Bank.

Ameswell is ideally positioned directly off Highway 101 and Moffett Boulevard in Mountain View and has access to Highways 85 and 237 and Interstate 280, which provide direct access to the entire Bay Area. 

The development is at the epicenter of Silicon Valley, surrounded by the largest technology companies in the world, venture capital and a highly educated workforce. 

Google, Amazon, Microsoft, Apple and Intuit are within a 2.5-mile radius of the project, and the Mountain View Baby Bullet Caltrain station is less than one mile from the property.

Michael Leggett
 The Ameswell Hotel will be one of Silicon Valley’s most prominently located, newly constructed independent lodging properties with modern luxury amenities and experiences. 

The hotel will feature creative, local design with a strong emphasis on art and technology; 6,258 square feet of premier meeting and event space; 

imaginative food and beverage offerings, which include a destination bar and restaurant and curated grab-and-go market; spacious guestrooms; abundant outdoor gathering spaces with a swimming pool, fire pits, bocce ball court and a large lawn; and sustainable operating practices. 

Ben Bullock
The steel-frame, five-story LEED-Platinum creative office building will have best-in-class construction featuring floor-to-ceiling glass lines that provide abundant natural light, 14-foot ceilings and 47,000-square-foot floorplates.  

Amenities include a 2.5-acre park, terraces and break-out areas to merge workspace and nature, dedicated bike and pedestrian trails and electric vehicle charging stations.  A six-tier parking structure will support the development.

The HFF equity and debt placement team consisted of senior managing directors Bruce Ganong and Michael Leggett, co-head of HFF’s West Coast team; senior director Ben Bullock; director Thomas Foley and analysts Austin White and Bercut Smith.

Thomas Foley
“Ameswell is one of the last fully entitled mixed-use development sites in Mountain View with prominent visibility from Highways 101 and 85,” Bullock said. 

 “With a submarket vacancy rate of less than five percent for Class A office in Mountain View, Ameswell is poised to capitalize on the abundant tenant demand for new product.”

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Bureau of Real Estate, License Number 01385740.

For more information, please contact:

HFF Digital Content/Public Relations Specialist
(713) 852-3420

No comments: