March 14, 2019 Comments Off on Silicon Valley Spec Development Secures $92M in Financing Views: 988 Bay Area, California News

Silicon Valley Spec Development Secures $92M in Financing

HFF arranged $91.7 million in financing for the development of Lawrence Station, a five-story, Class A spec office building in Santa Clara, CA. The developer, San Jose-based Bayview Development Group, secured the three-year construction loan through Broad Street Real Estate Credit Partners III (BSRECP III), a fund managed by the Goldman Sachs Merchant Banking Division.

Lawrence Station will consist of 173,474 rentable square feet of space, along with a neighboring parking garage. The project is located at 3607 Kifer Rd., on the corner of Lawrence Expressway, which offers unparalleled visibility between U.S. Highway 101 and State Route 82. Lawrence Station is due for completion in 2020.

HFF’s Charles Halladay, Brandon Roth, Ben Bullock and Taylor Gimian represented the borrower.

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