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November 20, 2019
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FINANCING NEWS
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New Bay Area Office Development Lands $515 Mil in Financing

4/24/19

Kylli Inc has obtained $515 mil in financing for Burlingame Point, a brand new, state-of-the-art 803k sf office campus in the Bay Area city of Burlingame. The construction financing was provided by J. P. Morgan and Starwood Property Trust, while Cushman & Wakefield’s Steve Kohn and Mike Moran with Chris Moyer, Terry Daly, Clarke Funkhouser, Noble Carpenter III and Jessica Ke advised Kylli in procuring the financing.

Burlingame Point is currently fully leased to Facebook Inc for occupancy by Oculus, Facebook’s virtual reality company. The campus is expected to be completed in 2020.

Burlingame Point is situated on the waterfront of the San Francisco Bay between Silicon Valley and San Francisco. Comprised of four office buildings, an amenity building and a parking structure, the modern office campus offers 360-degree views of the bay and surrounding mountains. Amenities at Burlingame Point include daily shuttle service to the nearby Caltrain and BART stations, a full ground floor of retail and dining options, a modern gym facility and outdoor green spaces. The property is also minutes from San Francisco International Airport as well as Highway 101 and Interstate 92.

“The market for construction and transitional financing has been bursting at the seams over the past year with well-located office development for world-class technology, biotechnology and life science companies on the radar of more lenders and investors,” said Steve Kohn. “Special projects like Burlingame Point are attracting capital and tenants from around the world.”

In addition to Burlingame Point, Kylli, Inc. is working on Mission Point, a 10.5 million-square-foot mixed-use development located at 3005 Democracy Way in Santa Clara, Calif. The project is eight miles from Downtown San Jose and just minutes from a multitude of Fortune 500 companies including Apple and Google.






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