Facebook's New Campus for Oculus Gets $515 Million of Financing
- JPMorgan, Starwood provide loan to Burlingame Point developer
- Complex with four office buildings set to be completed in 2020
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The developer building Facebook Inc.’s new waterfront office hub just south of San Francisco has gotten $515 million of financing for the project, which will house the technology giant’s Oculus virtual reality arm.
Kylli Inc., a subsidiary of China’s Genzon Investment Group Co., will use the loan from JPMorgan Chase & Co. and Starwood Property Trust Inc. to finish construction of the 803,000-square-foot (74,601-square-meter) campus, called Burlingame Point. The development will have four office buildings, according to a statement from brokerage Cushman & Wakefield, which arranged the financing.