HFF Arranges $313.8M Senior Construction Financing for Catalyst Office Development in Silicon Valley

HFF announces that it has 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 in Sunnyvale, California.

HFF worked on behalf of a venture between Harvest Properties and Invesco Real Estate, a global real estate investment manager, to secure the construction loan through ACORE Capital, a leading commercial real estate finance company.

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 situated in the heart of Silicon Valley, surrounded by high profile corporate neighbors, including Apple, Google, Microsoft, LinkedIn and Amazon. Catalyst has superior connectivity to the entire Silicon Valley and Bay area being 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.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

About Harvest Properties

Harvest Properties is a vertically-integrated, full-service commercial real estate investment firm that specializes in the acquisition, repositioning, development and management of commercial property, primarily through joint-venture investments throughout Northern California. Over the last decade, Harvest has become an established leader in the marketplace by generating attractive returns for its financial partners, providing creative solutions and outstanding service.

About Invesco Real Estate

Invesco Real Estate is a global leader in the real estate investment management business with $68.8 billion in real estate assets under management, 508 employees and 21 regional offices across the U.S., Europe and Asia (as of 03/31/2019). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; invesco.com.

About ACORE Capital

ACORE Capital, LP is a commercial real estate finance company focused on originating, acquiring and managing first mortgages, B-notes, mezzanine debt and preferred equity throughout the United States. ACORE, which is an acronym for Alpha Commercial Real Estate, specializes in providing borrowers with customized financing solutions at competitive rates and flexible terms. For investors, ACORE is focused on generating alpha through attractive commercial real estate debt investments coupled with superior risk management. ACORE is led by commercial real estate finance veterans Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan. For more information, please visit www.acorecapital.com.

About HFF

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190508005937/en/

BRUCE GANONG
CA Lic. #013332792
HFF Senior Managing Director
(415) 276-6940
[email protected]

BRANDON ROTH
CA Lic. #01767532
HFF Senior Director
(415) 276-6300
[email protected]

KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
[email protected]