Newmark Capital Markets has arranged approximately $200 million in financing for the acquisition of HQ@first, a state-of-the art, three-building creative office tower property that totals 603,666 square feet and is located at 110, 120, and 130 Holger Way in San Jose.
Newmark Capital Markets Vice Chairman Ramsey Daya and Managing Director Chris Moritz of the debt and structured finance team in the San Francisco office executed the financing on behalf of the buyer, Lane Partners and its capital partner. The loan was placed with Blackstone Mortgage Trust.
Built in 2010 the Class A property is situated on just under 10 acres at the intersection of Highway 237 and North First Street in the heart of Silicon Valley. The LEED Gold certified project features a campus environment with landscaped paths, natural light, views of the bay and hills, outdoor BBQ and patio areas, basketball court, top-of-the-line fitness center and locker rooms, a game room, an expansive executive business center and a 300-plus seat cafeteria.
“Given the strength of the sponsorship and quality of the asset, the debt markets showed a strong interest in this opportunity. Blackstone demonstrated an exceptional amount of commitment to the deal and our Newmark Capital Markets team is pleased to have successfully closed on this transaction with them on behalf of Lane Partners and Lane’s capital partner,” said Ramsey Daya. “HQ@first is truly a trophy asset that is San Jose’s most walkable and amenitized campus. We see this project gaining even more momentum and value over the coming years as the Silicon Valley market continues its upward growth.”
HQ@first is adjacent to multiple VTA Light Rail stations that connect to Caltrain, AMTRAK, ACE Train, and eventually BART and offers abundant parking. The property offers immediate access to a restaurant, retail and hotel amenity base with the @first retail center across the street. @first tenants include Chipotle, Chick-Fil-A, Five Guys, Panera, Coffee Bean, CVS, Target, Chase, Courtyard by Marriott and Hyatt House.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; Newmark Capital Markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.