SAN FRANCISCO--(BUSINESS WIRE)--HFF announces the $150 million financing of 1625 Plymouth, a 245,738-square-foot, build-to-suit office development located in the North Bayshore submarket of Mountain View, California.
The HFF team worked on behalf of the borrower, Broadreach Capital Partners, to secure the fixed-rate permanent loan through New York State Teachers Retirement System.
The loan closing coincided with completing the construction of the warm shell and delivering the building to the tenant for their tenant improvement buildout. The highly-amenitized building will feature a healthy and eclectic work environment with multiple outdoor deck spaces for functions and activities. 1625 Plymouth is a premier LEED Platinum Class A office building located directly off Highway 101 in the heart of Silicon Valley and near some of the most affluent communities in the Bay Area, including Atherton, Palo Alto, Los Altos, Los Altos Hills, Portola Valley and Woodside.
The HFF debt placement team representing the borrower consisted of senior managing director Bruce Ganong and analyst Bercut Smith.
“Working with the team at Broadreach Capital Partners and assisting them in securing a new relationship with NYSTRS was a tremendous opportunity and we are excited to watch the continued progress on site as the tenant completes their work and occupies this best-in-class office building,” said Ganong.
Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Bureau of Real Estate, License Number 01385740.
About Broadreach Capital Partners
Established in 2002, Broadreach Capital Partners is a real estate investment firm that focuses on western U.S. commercial and hotel properties. The firm invests in a wide variety of real estate assets across several submarkets. Their primary objective is the creation of value through the application of experience gained over decades of involvement in all phases of the real estate business, including the acquisition, development, redevelopment, management, financing, entitlement and disposition of real property. The firm combines this expertise with significant financial resources to produce what, over time, have been industry-leading results. Learn more at broadreachcp.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.