The Pointe at Redwood Shores, Redwood City, CA
SAN FRANCISCO, CA – HFF announced today that it has closed
the sale of The Pointe at Redwood Shores, an 89,895-square-foot, Class A
office campus in Redwood City, California.
 |
| Dave Karol |
HFF marketed the property on behalf of the seller, a joint
venture between Angelo Gordon & Co. and Premia Capital. Kennedy Wilson International purchased the
property for $22 million free and clear of existing debt.
Renovated in 2012, the two-building campus is situated on
4.28 acres and is approximately 80 percent leased to five tenants including AB
Sciex (anchor).
The building is located at the intersection of Redwood
Shores Parkway and Radio Road providing views of the San Francisco Bay and is
in close proximity to US Highway 101 and Route 92, which provides access to the
San Francisco Peninsula, Silicon Valley and East Bay areas.
 |
| Michael Leggett |
The HFF investment sales team representing the seller was
led by director Dave Karol along with senior managing director Michael
Leggett, managing director Steven Golubchik and associate director Mark
Damiani.
“The San Francisco Peninsula area benefits from its
proximity to a multitude of technology driven businesses, and the area has seen
strong demand as the market continues to recover. The buyer will undoubtedly benefit from the property’s potential
for leasing up the remaining vacancy at current market rates,” commented Karol.
 |
| Steve Golubchik |
Angelo, Gordon & Co. is a privately-held investment
advisor specializing in alternative investments such as real estate, distressed
debt, and private equity. The firm was founded in 1988 and currently manages
approximately $25 billion.
Premia Capital is a commercial real estate investment
company headquartered in San Francisco.
The company was founded by Michael Halow in 2009 and now owns and
operates more than 275,000 square feet of Class A office property on the San
Francisco Peninsula.
 |
| Mark Damiani |
Premia specializes in value-add and core-plus office
investing, providing all construction, leasing and asset management services
for its investments.
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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