June 12, 2018 – HFF announces the $150 million financing of 1625 Plymouth, a 245,738-square-foot, build-to-suit office development located in the North Bayshore submarket of Mountain View, California.
The HFF team worked on behalf of the borrower, Broadreach Capital Partners, to secure the fixed-rate permanent loan through New York State Teachers Retirement System.
The loan closing coincided with completing the construction of the warm shell and delivering the building to the tenant for their tenant improvement buildout. The highly-amenitized building will feature a healthy and eclectic work environment with multiple outdoor deck spaces for functions and activities. 1625 Plymouth is a premier LEED Platinum Class A office building located directly off Highway 101 in the heart of Silicon Valley and near some of the most affluent communities in the Bay Area, including Atherton, Palo Alto, Los Altos, Los Altos Hills, Portola Valley and Woodside.
The HFF debt placement team representing the borrower consisted of senior managing director Bruce Ganong and analyst Bercut Smith.
“Working with the team at Broadreach Capital Partners and assisting them in securing a new relationship with NYSTRS was a tremendous opportunity and we are excited to watch the continued progress on site as the tenant completes their work and occupies this best-in-class office building,” said Ganong.