HFF has arranged $300 million in financing for a 59-building office/research and development portfolio totaling 2.4 million sq. ft. throughout the California’s Silicon Valley.

Working on behalf of a joint venture between two global investment managers, HFF placed the four percent, floating-rate loan with Blackstone Mortgage Trust Inc. Proceeds were used to refinance existing debt.

The 59-building portfolio encompasses three business parks and 38 standalone office buildings in five submarkets throughout the Silicon Valley—Mountain View, Sunnyvale, Santa Clara, San Jose and Milpitas. The portfolio is more than 80 percent leased to a diverse mix of tenants including Apple, SanDisk, The McGraw-Hill Co., Intel and Netflix. Constructed between 1959 and 2000, the properties have been institutionally maintained and are suited to serve as corporate headquarters

The HFF team representing the borrower was led by senior managing directors Eric Tupler and Bruce Ganong, director Chris Gandy and associates Leon McBroom and Ed Brown.

“This financing was an integral component of the overall portfolio strategy, which also included the recent HFF executed sales of Park Square and Marriott Business Park in Santa Clara,” Ganong said in a statement. “The Blackstone team provided a customized financing solution that complements the portfolio strategy, and they worked tirelessly to meet our client’s condensed timeline.”