Entitled Office Portfolio Gets Nearly $314M in Funding
Upon completion, the Catalyst development will comprise three newly built class-A office buildings with two parking structures and one original class-B office building near Apple, Google, LinkedIn and Amazon.
SUNNYVALE, CA—HFF arranged $313.8 million in acquisition and construction financing for the development of Catalyst, a fully entitled four-property office portfolio that will comprise 587,942 square feet. HFF worked on behalf of a venture between Harvest Properties and Invesco Real Estate to secure the construction loan through ACORE Capital.
Catalyst currently consists of a shovel-ready office development site and three existing office buildings totaling 164,870 square feet, two of which will ultimately be demolished and replaced with new class-A office space. Upon completion, the development will comprise three newly built class-A office buildings with two parking structures and one original class-B office building.
The project is surrounded by high-profile corporate neighbors including Apple, Google, Microsoft, LinkedIn and Amazon. Catalyst is located within minutes of Highway 101 and State Route 237 as well as the downtown Sunnyvale and Sunnyvale Baby Bullet Caltrain stations.
The HFF debt placement team representing the borrower was led by Brandon Roth, Bruce Ganong, Peter Smyslowski and Bercut Smith.