May 9, 2019 Comments Off on Harvest, Invesco Snag $314M Financing for Sunnyvale Office Development Views: 357 California News, Top California

Harvest, Invesco Snag $314M Financing for Sunnyvale Office Development

Catalyst, a fully-entitled, four-property office portfolio that will comprise 587,942 square feet in Sunnyvale, CA, received $313.8 million in acquisition and construction financing for development. HFF worked on behalf of a venture between Harvest Properties and Invesco Real Estate to secure the construction loan through ACORE Capital.

The property currently consists of a shovel-ready office development site and three existing office buildings totaling 164,870 square feet, two of which will ultimately be demolished and replaced with new Class A office space. The development will comprise three newly-built, Class A office buildings with two parking structures and one original Class B office building.

HFF’s debt placement team representing the borrower was led by Brandon Roth, Bruce Ganong, Peter Smyslowski and Bercut Smith.

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