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4/05/21
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A Brookfield Property Partners affiliate purchased a two-building, 456.8k sf office asset in Mountain View in a $630 mil transaction. Built in 2017, the complex is leased to WeWork.
The property is located at 401 and 391 San Antonio Rd, at the intersection with at El Camino Real. Situated less than half a mile from a Caltrain stop, the property’s location offers easy access to much of the Bay Area.
The two buildings are LEED Gold-certified and are 217.8k sf and 239k sf in size. The asset, which includes a 1,200-space parking garage, 24k sf of retail space and an ICON multiplex theater, is part of The Village at San Antonio Center, a mixed-use project that also contains a 90k sf retail center, a 330-unit apartment property and a 157-room Hyatt hotel.
Brookfield purchased the property, including closing costs, with about $137 mil in equity and a loan of $505 mil. The buildings were sold by an affiliate of Merlone Geier Partners.
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