SAN FRANCISCO– HFF announced today that it has arranged a $55 million refinancing for Mountain Bay Plaza at 444 Castro, a 12-story, 165,390-square-foot, Class A office tower in downtown Mountain View, California.
Working on behalf of the borrower, The Swig Company, HFF placed the fixed-rate loan with John Hancock Real Estate.
Situated in the heart of downtown Mountain View at the corner of Castro and Mercy Streets, Mountain Bay Plaza enjoys excellent access to public transportation (Caltrain), and abundant retail and dining amenities in Mountain View’s downtown core. Originally built in 1970 and renovated in 2001, the property features ground floor retail and an office plaza plus 11 floors of office space above a two-level, 459-space subterranean parking garage. It is the only high-rise in downtown Mountain View, offering unobstructed views of Silicon Valley, San Francisco Bay, and the Santa Cruz Mountains. The 97 percent leased property features a diversified roster of prominent Silicon Valley tenants including Fenwick & West, Red Hat, PricewaterhouseCoopers and Bank of America.
The HFF team representing The Swig Company was led by senior managing director Bruce Ganong and associate Walter Chui.
“The property’s core location and impressive tenant roster, combined with Swig Company’s premier sponsorship encouraged a competitive response in which John Hancock prevailed over numerous lenders and delivered an attractive solution for our client,” said Ganong.
Headquartered in San Francisco, The Swig Company LLC is a private investment company with a 75-year history of development, ownership and management of commercial real estate properties in major markets throughout the United States. The company’s diversified portfolio includes 9+ million square feet of office buildings in markets such as New York, San Francisco and Southern California.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.