HFF closes $30.4 million sale of and secures $21.5 million financing for East Bay office complex
SAN FRANCISCO, CA – March 30, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $30.4 million sale of and secured $21.5 million in financing for Hookston Square, a two-building suburban office campus totaling 207,555 square feet in the East Bay community of Pleasant Hill, California.
HFF arranged an off-market transaction for Hookston Square on behalf of the seller, True North Management Group, and procured the buyer, Graham Street Realty. Additionally, HFF worked on behalf of the new owner to secure the three-year, floating-rate acquisition loan through a commercial bank.
Hookston Square is situated on a 9.5-acre site at 3478 and 3480 Buskirk Avenue, just east of Interstate 680 and close to State Route 24, which provides access to downtown San Francisco. The three-story identical properties feature a common courtyard and newly-renovated lobbies. Tenants at the 87 percent leased complex include John Muir Health, Pacific Business Center, Accelrys, Maze & Associates and The Source Group.
The HFF investment sales team representing True North Management Group was led by associate director David Dokko and associate Garrett Calbert.
HFF’s debt placement team representing Graham Street Realty was led by director Jordan Angel and associate Zachary Kersten.
About True North Management Group
True North Management Group (True North), founded in 2004, is a privately held real estate investment management firm headquartered in White Plains, New York. Since inception, the firm has successfully completed more than 50 distinct debt and equity investments with more than $1.2 billion in transaction value involving office, retail, hospitality, multifamily and other property types throughout the United States. True North currently has ownership interests in approximately four million square feet of office properties.
About Graham Street Realty
Graham Street Realty (GSR) is a private, San Francisco-based real estate investment company that owns and operates office properties. Since its founding in 2008, GSR has acquired over $113 million in office assets. The company currently owns and operates six properties totaling 730,000 square feet in California and Colorado.
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is 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, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
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.