Done Deals: HFF announces $63.5 million bridge financing for a recently completed Silicon Valley office property

Friday, September 28, 2018

HFF announces $63.5 million bridge financing for a recently completed Silicon Valley office property

Creekside@17 Office Complex, Campbell, CA

SAN FRANCISCO, CA – – HFF announces $63.533 million in bridge financing for Creekside@17, a recently-completed, Class A office building in the Silicon Valley area-community of Campbell, California.

The HFF team worked on behalf of the borrower, a venture between The Carlyle Group and South Bay Development Company, to secure the five-year, floating-rate loan from funds managed by Oaktree Capital Management, L.P. (“Oaktree”).

Completed in 2018, Creekside@17 comprises 177,815 square feet of best-in-class office space designed to accommodate full or multi-floor users.

The five-story building offers 36,000-square-foot average floorplates, underground parking, spacious break rooms and collaboration areas, and building signage along Highway 17, which has exposure to more than 200,000 vehicles per day.

Chris Gandy

The property’s location at 675 Creekside Way is positioned within the West Valley submarket of Silicon Valley with visibility off Highway 17, which connects to Highway 85 and Interstate 280, providing access to the entire Bay Area.

Creekside@17 is adjacent to a 158-room Courtyard by Marriott hotel and the Hamilton VTA Light Rail station and is close to numerous retail and service amenities in Downtown Campbell, the Pruneyard and Santana Row.

The HFF debt placement team representing the borrower included senior director Chris Gandy.

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