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Mesa West Capital and Hudson Pacific Properties Provide $140 Mil for China-Based Tech Company’s Silicon Valley Buy

7/19/16

Mesa West Capital and Hudson Pacific Properties have teamed up to provide Beijing, China-based internet technology company LeEco with $140 mil in first mortgage debt to acquire a 48.6-acre land site in Santa Clara for the planned development of a 3 msf World headquarters campus. The official name of the lending partnership is Hudson Mesa West SA Democracy Way LLC, a limited liability company managed by Mesa West Capital on behalf of a separate account with a private pension fund, and Hudson Pacific Properties Inc.

“LeEco is a very dynamic technology firm with exciting plans for the future. The firm saw this site as a terrific opportunity to develop a Global headquarters and plant a flag in the U.S. realizing that having a strong presence in Silicon Valley is pivotal for talent acquisition and continued growth,” said Mesa West Capital Vice President Brandon Bachner, a member of the origination team. “Our short-term floating rate loan will provide LeEco with enough runway to complete their pre-development plan.”

LeEco purchased the fully entitled site at 3005 Democracy Way, from Yahoo!, which had owned the property since 2004. The property lies within the Marriott Business Park, a 475-acre, master-planned development in Silicon Valley’s “Golden Triangle,” created by the 237, 101 and 880 Freeways. The area is home to such companies as Toshiba, Cisco, Samsung, Google, Apple and PayPal.

LeEco will team with a to-be-determined proven U.S. real estate partner to develop the property over several phases with the first 1 msf of office space expected to be completed by 2020. LeEco established a U.S. foothold late last year when it signed a lease for 80k sf in nearby San Jose.

The financing was arranged by Brad Zampa, Michael Walker and Megan Woodring in the San Francisco office of CBRE Capital Markets Institutional Group.






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