Done Deals: HFF arranges $93 million acquisition financing for 1333 Broadway in Oakland, CA

Sunday, June 9, 2019

HFF arranges $93 million acquisition financing for 1333 Broadway in Oakland, CA

1333 Broadway, Oakland, CA

SAN FRANCISCO, CA –– HFF announces that it has arranged approximately $93 million in acquisition financing for 1333 Broadway, a 253,393-square-foot, Class A office building in Oakland, California.

HFF worked on behalf of Swift Real Estate Partners to secure the floating-rate acquisition loan through an affiliate of Brookfield Asset Management.

David Copeland

1333 Broadway is positioned in the heart of Oakland immediately adjacent to the 12^th Street City Center Bart station, which is only two stops away from San Francisco.

The property has convenient access to the Bay Area’s highway system via Highways 980 and 880 and with a Walk Score® of 99, is within walking distance of a multitude of restaurants, beer gardens, cafes, retail shops and entertainment options in Uptown Oakland.

Major tenants at the 95% leased office tower include Delta Dental and Teecom.

“Swift is thrilled to purchase such a high-quality building located in the heart of Oakland on top of the City Center Bart station,” said David Copeland, the Director that led the acquisition for Swift Real Estate Partners.

“1333 Broadway benefits from a strong tenant base that has invested significantly in their space. This area is undergoing a substantial transformation enhanced by approximately 1,500 new residential units and corresponding ground floor retail under construction within a three-block radius.”

The HFF debt placement team that arranged the financing consisted of managing directors Jordan Angel and Mark Root.

Jacobus Machalow of Orrick provided legal representation for Swift Real Estate Partners.

Jordan Angel

“The lender provided Swift Real Estate Partners a great loan option for the acquisition of 1333 Broadway after a competitive process,” added Angel.

“The accretive acquisition financing will enable Swift to work through their business plan on an asset in one of the best office real estate markets in the Bay Area.”

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

About Swift Real Estate Partners

Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco, and has regional offices in Orange County, Portland, the San Francisco East Bay and the Silicon Valley.

Swift is a vertically integrated real estate investment firm which seeks to generate superior risk-adjusted returns for its partners.

Mark Root

Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment.

Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than 10 million square feet.

Swift’s first institutional fund was raised in 2014 and is fully deployed. Swift’s Fund II was raised in 2016 and is fully committed.

Swift’s investor base includes U.S. pension funds, endowments and foundations, as well as foreign investors and investment advisors.

Swift's professionals bring experience encompassing all aspects of real estate investment management, including acquisition, financing, leasing, disposition, construction oversight and property management.