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Stockbridge Refinances 304,000-SF Mixed-Use Property

SAN MATEO, CA-The real estate private equity partnership secures a little more than $38 million for Park Place at Bay Meadows, which includes a 186,529-sf class A office building, a 62,922-sf Whole Foods-anchored retail center, 19 upscale residential condominiums and a 20,876-sf free-standing health club.

By Brian K. Miller | Updated on October 05, 2003

SAN MATEO, CA-Stockbridge Real Estate Fund LP has refinanced Park Place at Bay Meadows, a 304,000-sf mixed-use property immediately adjacent to US Highway 101 in the city.

Completed earlier this year, the development includes an 186,529-sf class A office building, a 62,922-sf Whole Foods-anchored retail center, 19 upscale residential condominiums and a 20,876-sf freestanding health club. The parties involved declined to provide current occupancy, choosing instead to say that the property will be 94% leased if leases currently under negotiation are consummated.

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