PALO ALTO, CA—CBRE Capital Markets' Debt & Structured Finance team recently arranged $86.5 million in non-recourse financing for the acquisition of 3175 Hanover St, a 128,678-square-foot, single-tenant office building.
The property is leased to Cooley LLP, an esteemed global law firm, and it is located in the prestigious Stanford Research Park, which is home to many companies such as VMware, Hewlett-Packard, and Tesla's HQ and research facility.
John Nelson of CBRE's San Francisco office arranged the acquisition financing on behalf of the borrower, a Sand Hill Property Company joint venture. The financing was provided by a Wall Street lender.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
