Apple Site Gets Acquisition Loan

SUNNYVALE, CA—The Central & Wolfe Campus for Apple‘s iconic 770,000-square-foot facility has acquired site funding. Manatt, Phelp & Phillips LLP closed a $115 million acquisition loan from Wells Fargo to help Jay Paul Company acquire the site at 222 North Wolfe Rd. on which Jay Paul will develop the Apple campus. Manatt previously represented Landbank, the original developer/land seller of the site, in connection with evaluation of financing alternatives and assisted in negotiating the lease with Apple.

Landbank, along with a design team led by HOK Architects, is redeveloping the 18-acre site at the intersection of Central Expressway and Wolfe Road in Sunnyvale. The Manatt team included San Francisco-based partner Clay Gantz, with assistance from associate Grace Yang and counsel Scott Johnson.