SAN MATEO, CA—HFF says it has arranged post-acquisition financing for San Mateo BayCenter, a three-building class A office campus totaling 303,257 square feet.
HFF worked on behalf of the borrower Rockpoint Group to secure the floating-rate, post-acquisition financing through Wells Fargo. HFF also handled the sale of the property, which closed in September, on behalf of Equity Office Properties.
Situated at the intersection of U.S. Highway 101 and Highway 92 equidistant from San Francisco and Silicon Valley, San Mateo BayCenter enjoys excellent access to retail amenities and public transportation. Built in 1987, San Mateo BayCenter is comprised of three institutionally maintained five- and seven-story office buildings located at 901 and 951 Mariners Island Boulevard and 999 Baker Way. The campus is more than 98% leased to a diversified roster of tenants including Marketo, Brightedge Technologies and Actuate.
The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong, director Jordan Angel and associate Walter Chu.
“Strong occupancy, positive sub-market fundamentals, and best in class sponsorship encouraged competitive proposals from a number of lenders and Wells Fargo won the business with a flexible proposal that met the borrower's request,” Ganong said.
The HFF investment sales team representing the seller was led by managing director Steven Golubchik, senior managing director and co-head of HFF's national office investment sales platform Michael Leggett and director John Simerlein.
"It's one of the best products built on the 92 corridor," Golubchik said. “Interest in this vertical, urban-style project was incredibly high. San Mateo BayCenter has plenty of parking, and some of the floors have been converted to tech-friendly 'creative spaces' with open floor plans.”
Rockpoint Group, is a global real estate investment management firm headquartered in Boston, with additional primary offices in San Francisco and Dallas. Equity Office Properties is one of the largest commercial real estate firms in the nation. HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
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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.
