July 27, 2016
Los Angeles-based CBRE Group Inc. secured a $140-million land acquisition loan for a 48.6-acre, nine-parcel site located at 3005 Democracy Way in Santa Clara, CA. LeEco, a Chinese-based internet technology firm, acquired the fully-entitled development site from Yahoo!, Inc for $250 million.
LeEco plans to develop a more than 3-million-square-foot office/R&D/commercial campus in stages and establish it as its worldwide HQ for more than 12,000 employees. LeEco established a presence in Silicon Valley, recently leasing 80,000 square feet in North San Jose as its temporary U.S. headquarters.
CBRE Capital Markets’ San Francisco-based debt and structured finance team, working on behalf of LeEco, included Brad Zampa, Michael Walker and Megan Woodring. Financing was provided by Mesa West Capital and Hudson Pacific Properties.
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