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| Ten Almaden, 10 Almaden Boulevard, Downtown San Jose, CA |
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| Bruce Ganong |
SAN FRANCISCO, CA – HFF announced it arranged $76.6 million
in financing for Ten Almaden, a 309,255-square-foot, transit-oriented,
Class A office building in downtown San Jose, California.
Working on behalf of KBS Capital Advisors for KBS REIT III, HFF placed
the three-year, floating-rate loan with Bank of America. Loan proceeds were used to acquire the
property from Equity Office Properties in a sale also arranged by HFF.
Completed in 1988 and renovated in 2010, Ten Almaden is a 17-story, LEED
Certified Gold office tower that is 89 percent leased to tenants including
Citibank, Comcast, Robert Half International, Rosetta Marketing Group and
Turner Construction Company.
The property features a three-story atrium and lobby,
fitness center with outdoor pool, sauna and showers, a six-level parking
structure and café.
Situated on a
1.64-acre site at 10 Almaden Boulevard, the property is within walking distance
to the San Jose Diridon Transit Station served by Caltrain, Amtrak, ACE
commuter rail, VTA light rail and bus lines connecting downtown San Jose to San
Francisco and the Peninsula.
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| Kevin MacKenzie |
The property is also convenient to Interstates 280, 680,
880, Highways 87 and 17 and US 101 as well as being a five-minute drive from
San Jose’s Norman S. Mineta International Airport.
The HFF debt placement team representing the borrower was
led by senior managing directors Bruce Ganong and Kevin MacKenzie
and director Jordan Angel.
KBS Capital Advisors is KBS REIT III’s external advisor and
is an affiliate of KBS Realty Advisors, a private equity real estate company
and SEC-registered investment adviser founded by Peter Bren and Charles
J. Schreiber in 1992.
Since its inception, KBS and its affiliated companies have
completed transactional activity of more than $31 billion via 14 separate
accounts, six commingled funds, five sovereign wealth funds and six non-traded
REITs.
For information,
visit www.kbs.com.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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