PLEASANTON, CA—JLL's Capital Markets expertssaid today that the firm has secured $152 millionin debt financing for California Center, a1,030,266-square-foot office campus located inPleasanton, in San Francisco's East Bay. Starwood PropertyTrust provided the five-year, floating-rate loan in which$106.5 million was funded at closing with anadditional $45.5 million for future capitalimprovements.
Managing director John Manning and senior vicepresident Alex Witt led the JLL team on thetransaction.
“California Center is a high-quality office asset that offerslarge blocks of office space – a rare opportunity in the SanFrancisco Bay Area,” said Manning. “The asset is backed by best inclass sponsorship and offers near-term upside potential, both ofwhich are huge draws for the lending community.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
