DUBLIN, CA-Tishman Speyer has recapitalized its Dublin Corporate Center office campus by buying back all of the property’s debt at a discount and committing new capital that will be used to fund future capital expenditures and leasing costs. Although Tishman Speyer wouldn’t comment further than what was in the release, an industry source not involved in the deal tells GlobeSt.com that the face amount of the debt was approximately $105 million and that Tishman Speyer paid $55 million for it.

“This substantial commitment of new capital illustrates our overall positive view of the Tri-Valley submarket east of San Francisco,” says Tishman Speyer co-CEOs Jerry Speyer and Rob Speyer. “More specifically, it signifies our desire to continue ownership of one of the area’s finest properties situated at one of the best locations. We look forward to continue providing our tenants with superior office accommodations at Dublin Corporate Center.”

Dublin Corporate Center is an 18.6-acre class-A office campus consisting of three four-story office buildings totaling 440,278 square feet. It is located along the 580 corridor in the Dublin submarket, which is part of the greater Tri-Valley market and is one of the fastest growing submarkets in the San Francisco Bay Area. The Tri-Valley’s attractive demographics, excellent amenities, and extensive public and private transportation infrastructure have made it one of the most desirable markets in the Bay Area for large, credit-worthy corporate tenants.