DUBLIN, CA-Tishman Speyer has recapitalized its Dublin CorporateCenter office campus by buying back all of the property’s debt at adiscount and committing new capital that will be used to fundfuture capital expenditures and leasing costs. Although TishmanSpeyer wouldn’t comment further than what was in the release, anindustry source not involved in the deal tells GlobeSt.com that theface amount of the debt was approximately $105 million and thatTishman Speyer paid $55 million for it.

“This substantial commitment of new capital illustrates ouroverall positive view of the Tri-Valley submarket east of SanFrancisco,” says Tishman Speyer co-CEOs Jerry Speyer and RobSpeyer. “More specifically, it signifies our desire to continueownership of one of the area’s finest properties situated at one ofthe best locations. We look forward to continue providing ourtenants with superior office accommodations at Dublin CorporateCenter.”

Dublin Corporate Center is an 18.6-acre class-A office campusconsisting of three four-story office buildings totaling 440,278square feet. It is located along the 580 corridor in the Dublinsubmarket, which is part of the greater Tri-Valley market and isone of the fastest growing submarkets in the San Francisco BayArea. The Tri-Valley’s attractive demographics, excellentamenities, and extensive public and private transportationinfrastructure have made it one of the most desirable markets inthe Bay Area for large, credit-worthy corporate tenants.