Cushman & Wakefield Arranges $750M Refinancing for Burlingame Point Office Campus on San Francisco Peninsula
BURLINGAME, CALIF. — Cushman & Wakefield has arranged $750 million for the refinancing of Burlingame Point, a Class A office, R&D and life sciences campus located on the San Francisco Peninsula in Burlingame. The property includes four buildings totaling approximately 771,000 rentable square feet, along with a 33,000-square-foot amenity building and more than 2,300 onsite parking spaces.
The waterfront property is centrally located between Silicon Valley and downtown San Francisco. The LEED Gold-certified asset is situated on 18 acres and provides tenants with common areas and open green space.
Affiliates of Goldman Sachs, J.P. Morgan, Deutsche Bank and Athene Annuity & Life Co. (via Apollo Global Management) provided the 9.3-year, fixed-rate financing. Steve Kohn, Chris Moyer, Terry Daly, Rob Rubano, Keith Padien, Alex Lapidus and Meredith Donovan of Cushman & Wakefield represented the borrower, Kylli Inc. The new financing retires construction financing that Cushman & Wakefield arranged on behalf of Kylli in April 2019.
Mike Moran and Clarke Funkhouser of Cushman & Wakefield served as leasing agents for the property, which is fully leased to Facebook. Gensler was the project architect.
Kylli is a full-service investment holding firm focused on the development, operation and management of institutional-quality real estate assets in the San Francisco Bay Area. The company’s current portfolio also includes 225 Bush in San Francisco and Mission Point in Santa Clara, Calif.
— Kristin Hiller