Cushman & Wakefield Arranges $750M Refinancing for Mixed-use Office, R&D and Life Science Campus in San Francisco
Cushman & Wakefield (NYSE: CWK) has facilitated the procurement of $750 million for the refinancing of Burlingame Point, a premier office campus on the San Francisco Peninsula, on behalf of Kylli, Inc. The financing features a 9.3-year fixed rate and was arranged with prominent financial institutions including Goldman Sachs and J.P. Morgan. Burlingame Point is a LEED Gold-certified property comprising 771,000 rentable square feet and amenities that support innovative business needs. This project exemplifies Cushman & Wakefield's expertise in delivering quality real estate solutions in challenging environments.
- Secured $750 million refinancing, enhancing cash flow and financial flexibility.
- Burlingame Point is a LEED Gold-certified property, which may attract environmentally-conscious tenants.
- Strategic location between Silicon Valley and San Francisco enhances tenant appeal.
- Involvement of reputable financial partners, indicating strong market confidence.
- None.
Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to affiliates of Kylli, Inc. in the procurement of
Burlingame Point is a LEED Gold-certified property featuring four Class A office/R&D/life science buildings totaling approximately 771,000 rentable square feet, a 33,000-square-foot amenity building and more than 2,300 on-site parking spaces.
“We are proud to have delivered this outstanding project during such unprecedented times and we look forward to seeing Burlingame Point fully activated,” said Ou Sun, CEO of Kylli.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Steve Kohn, Chris Moyer, Terry Daly, Rob Rubano, Keith Padien, Alex Lapidus and Meredith Donovan represented the borrower. Cushman & Wakefield also advised Kylli on the construction financing of the asset in April of 2019. Mike Moran and Clarke Funkhouser of Cushman & Wakefield provided leasing market support.
“Kylli developed a world-class office campus, the quality of which resulted in a highly attractive leasing and financing execution,” said Kohn.
Centrally located between Silicon Valley and downtown San Francisco, Burlingame Point is the newest best-in-class office development on the San Francisco Peninsula waterfront. Situated on 18 acres, the property provides tenants with an abundance of waterfront, common area and open green space.
Burlingame Point offers access to the dynamic business environment that thrives in the Bay Area, located within miles of Silicon Valley technology, Bay Area life science research and venture capital fund managers. With immediate access to Highway 101, Caltrain, BART and the San Francisco International Airport, Burlingame is well-positioned for the next generation of diverse, innovative businesses.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of
About Kylli, Inc.
Kylli is a full-service investment holding firm focusing on the development, operation and management of institutional quality real estate assets in the San Francisco Bay Area. Kylli’s current portfolio includes 225 Bush in San Francisco CA, Burlingame Point in Burlingame, CA and Mission Point in Santa Clara, CA. For more information visit www.kylli.com.
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