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| Rendering of Catalyst, a fully-entitled, four-property office portfolio that will comprise 587,942 square feet in Sunnyvale, CA |
SAN FRANCISCO, CA –– HFF announces that it has arranged $313.8 million in acquisition and construction financing for the development of Catalyst, a fully-entitled, four-property office portfolio that will comprise 587,942 square feet in Sunnyvale, California.
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| Brandon Roth |
HFF worked on behalf of a venture between Harvest Properties and
Invesco Real Estate, a global real estate investment manager, to secure the
construction loan through ACORE Capital, a leading commercial real estate
finance company.
Catalyst currently consists of a shovel-ready office development site
and three existing office buildings totaling 164,870 square feet, two of which
will ultimately be demolished and replaced with new Class A office space.
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| Bruce Ganong |
Upon completion, the
development will comprise three newly built, Class A office buildings with two
parking structures and one original Class B office building.
The project is situated in the heart of
Silicon Valley, surrounded by high profile corporate neighbors, including
Apple, Google, Microsoft, LinkedIn and Amazon.
Catalyst has
superior connectivity to the entire Silicon Valley and Bay area being located
within minutes of Highway 101 and State Route 237 as well as the Downtown
Sunnyvale and Sunnyvale Baby Bullet Caltrain stations.
The HFF debt placement team representing the borrower was led by Brandon
Roth, Bruce Ganong, Peter Smyslowski and Bercut Smith.
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| Peter Smyslowski |
Holliday GP Corp. (“HFF”) is a real estate broker licensed with the
California Department of Real Estate, License Number 01385740.
About Harvest Properties
Harvest Properties is a vertically-integrated, full-service commercial real estate investment firm that specializes in the acquisition, repositioning, development and management of commercial property, primarily through joint-venture investments throughout Northern California.
Over the last decade,
Harvest has become an established leader in the marketplace by generating
attractive returns for its financial partners, providing creative solutions and
outstanding service.
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| Bercut Smith |
About
Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $68.8 billion in real estate assets under management, 508 employees and 21 regional offices across the U.S., Europe and Asia (as of 03/31/2019).
Invesco
Real Estate has been actively investing in core, value-add and opportunistic
real estate strategies since 1992. Invesco Real Estate is a business name of
Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd.
CONTACTS:
BRUCE GANONG
CA Lic. #013332792
HFF Senior Managing Director
(415) 276-6940
BRANDON ROTH
CA
Lic. #01767532
HFF Senior Director
(415) 276-6300
KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
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