HFF Arranges $313.8M Construction Financing for Office Development in Silicon Valley
SUNNYVALE, CALIF. — HFF has secured $313.8 million in acquisition and construction financing for the development of Catalyst, a fully entitled, four-property office project in Sunnyvale. The borrower, a joint venture between Hearst Properties and Invesco Real Estate, acquired the development site in early May.
Brandon Roth, Bruce Ganong, Peter Smyslowski and Bercut Smith of HFF worked on behalf of the borrower 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 be demolished and replaced with new Class A office space. Upon completion, the 587,942-square-foot project will comprise three newly built, Class A office buildings with two parking structures and one original Class B office building.