The deal will also give the firm an outdoor storage yard.

The company will seek to deploy it across various CRE sectors from hospitality to open-air retail.

Mizuho provided a $289 million acquisition loan.

The fund seeks up to $1 billion in total commitments, while allowing for more than $3 billion in buying power.

Nomura provided a senior loan.

In total, PayPal will operate three floors.

The firm will occupy a 12-story commercial research development facility.

High-quality space is becoming more scarce in the market, which could open more opportunities for Downtown.