DUBLIN, CA-Tishman Speyer has recapitalized its Dublin Corporate Center office campus by buying back all of the property’s debt at a discount and committing new capital that will be used to fund future capital expenditures and leasing costs. Although Tishman Speyer wouldn’t comment further than what was in the release, an industry source not involved in the deal tells GlobeSt.com that the face amount of the debt was approximately $105 million and that Tishman Speyer paid $55 million for it.

“This substantial commitment of new capital illustrates our overall positive view of the Tri-Valley submarket east of San Francisco,” says Tishman Speyer co-CEOs Jerry Speyer and Rob Speyer. “More specifically, it signifies our desire to continue ownership of one of the area’s finest properties situated at one of the best locations. We look forward to continue providing our tenants with superior office accommodations at Dublin Corporate Center.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.