$313.8M Senior Construction Financing for Catalyst Office Development in Silicon Valley

May 8, 2019 – 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...

May 8, 2019 – 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. 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. 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.

Categories
Bay AreaCommercialDealsFinancingNationalOfficeSilicon ValleyWest

RELATED ARTICLES