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SAN JOSE—As the year winds to a close, it ends with significant activity in Silicon Valley. As reported last week, DivcoWest and its joint venture partner Rockpoint Group completed the purchase of Riverpark Towers, a 600,000-square-foot class-A downtown office complex near Diridon Station for a recorded price of $283.5 million or $473 per square foot.
GlobeSt.com has learned of several other significant recent transactions in San Jose that are contributing to the ongoing stimulus underway there.
Approximately $200 million in financing was obtained for the acquisition of HQ@first, a three-building creative office tower property that totals 603,666 square feet and is located at 110, 120 and 130 Holger Way. NKF Capital Markets vice chairman Ramsey Daya and managing director Chris Moritz executed the financing on behalf of the buyer, Lane Partners and its capital partner. The loan was placed with Blackstone Mortgage Trust.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
