Dealmaker: Cushman & Wakefield Arranges $750M for Bay-Area Office Campus

Cushman & Wakefield, New York, arranged $750 million to refinance Burlingame Point, a Class A office, R&D and life sciences campus on the San Francisco peninsula.

Burlingame Point

The property in Burlingame includes four buildings that total 771,000 rentable square feet plus a 33,000-square-foot amenity building, all currently leased by Facebook. The 18-acre waterfront property is between Silicon Valley and downtown San Francisco.

Affiliates of Goldman Sachs, J.P. Morgan, Deutsche Bank and Athene Annuity & Life Co. (via Apollo Global Management) provided the 9.3-year fixed-rate financing.

Cushman & Wakefield Vice Chairmen Steve Kohn and Terry Daly, Managing Director Chris Moyer, Executive Managing Directors Rob Rubano and Keith Padien, Director Alex Lapidus and Financial Analyst Meredith Donovan represented borrower Kylli Inc., San Francisco. The new financing retired construction financing that Cushman & Wakefield arranged for Kylli in April 2019.

Executive Managing Director Mike Moran and Executive Director Clarke Funkhouser of Cushman & Wakefield served as leasing agents for the property.