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| Part of Silicon Valley Portfolio, Silicon Valley, CA |
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| 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.
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| 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.
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| 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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