HFF, Inc. : HFF arranges $300 million financing for 59-building office
portfolio in Silicon Valley
SAN FRANCISCO, CA, June 24, 2013 -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.
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
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 .
Blackstone Mortgage Trust, Inc. (NYSE: BXMT) is a real estate finance company
that primarily originates and purchases senior mortgage loans collateralized
by properties in the United States and Europe. The company is externally
managed by BXMT Advisors L.L.C., a subsidiary of The Blackstone Group L.P.
("Blackstone"), and is a real estate investment trust traded on the NYSE under
the symbol "BXMT." Blackstone Mortgage Trust, Inc. is headquartered in New
York City. Further information is available at
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned
by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a
leading provider of commercial real estate and capital markets services to the
U.S. commercial real estate industry. HFF together with its affiliate HFFS
offer clients a fully integrated national capital markets platform including
debt placement, investment sales, equity placement, advisory services, loan
sales and commercial loan servicing. For more information please visit
www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.
HFF Senior Managing Director
HFF Senior Managing Director
HFF Associate Director, Marketing
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applicable laws; and
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information contained therein.
Source: HFF, Inc. via Thomson Reuters ONE
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