February 22, 2017 Comments Off on $233M Loan Secured for Apple-Occupied Campus Views: 493 Bay Area, California News

$233M Loan Secured for Apple-Occupied Campus

Natixis provided a $232.5-million loan to New York City-based Tristar Capital for the acquisition of the 349,758-square-foot Crossroads III. The office campus in Sunnyvale, CA is 100% occupied by Apple, Inc. The five-year, fixed-rate loan was for three assets situated on a 14.8-acre site at 410, 420, and 430 N. Mary Ave.

New York City-headquartered Cooper-Horowitz’ Richard Horowitz arranged the financing for the three-story freestanding office buildings built between 1990 -1992. Each building is comprised of two wings around one central core, with two courtyards located between the buildings.

Natixis is the international corporate, investment, insurance and financial services arm of French banking group, Groupe BPCE.

Tristar Capital purchased the asset for $290.7 million from Rockwood Capital.  JLL’s Erik Doyle, Will Connors and Nichole Zanghi handled the deal, Tristar’s first Silicon Valley acquisition.

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