HFF announces $17.85M in post-acquisition financing for 1450 Veterans Boulevard in Redwood City, California
SAN FRANCISCO, CA – August 23, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces $17.85 million in post-acquisition financing for 1450 Veterans Boulevard, a three-story, 53,000-square-foot office building in downtown Redwood City, California.
The HFF team worked on behalf of the borrower, REES Properties, Inc., to secure the 10-year, fixed-rate loan through Principal Commercial Capital, Principal Real Estate Investors’ CMBS platform. Principal Real Estate Investors is also the primary servicer of the loan, proceeds of which will be used to refinance the existing mortgage on the property. In a previously announced transaction, HFF represented the seller, Griffin Capital, in the sale to REES Properties, Inc.
1450 Veterans Boulevard is located in downtown Redwood City, just one mile from the Redwood City Caltrain station, providing direct access to downtown San Francisco. Downtown Redwood City offers the unique combination of proximity to Stanford University, venture capital, the U.S. Highway 101 corridor and connectivity to the executive housing corridor along Interstate 280 via Woodside Road.
The HFF debt placement team representing the borrower included director Chris Gandy and real estate analyst Jason Carlos.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $74.7 billion in commercial real estate assets*. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
*As of 30 June 2017
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.