HFF Arranges $313.8M Senior Construction Financing for Catalyst Office Development in Silicon Valley

SAN FRANCISCO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24HF&src=ctag” target=”_blank”gt;$HFlt;/agt; lt;a href=”https://twitter.com/hashtag/CRE?src=hash” target=”_blank”gt;#CRElt;/agt;–HFF announces that it has arranged $313.8 million in acquisition and
construction financing for the development of Catalyst, a
fully-entitled, four-property office portfolio that will comprise
587,942 square feet in Sunnyvale, California.

HFF worked on behalf of a venture between Harvest Properties and Invesco
Real Estate, a global real estate investment manager, to secure the
construction loan through ACORE Capital, a leading commercial real
estate finance company.

Catalyst currently consists of a shovel-ready office development site
and three existing office buildings totaling 164,870 square feet, two of
which will ultimately be demolished and replaced with new Class A office
space. Upon completion, the development will comprise three newly built,
Class A office buildings with two parking structures and one original
Class B office building. The project is situated in the heart of Silicon
Valley, surrounded by high profile corporate neighbors, including Apple,
Google, Microsoft, LinkedIn and Amazon. Catalyst has superior
connectivity to the entire Silicon Valley and Bay area being located
within minutes of Highway 101 and State Route 237 as well as the
Downtown Sunnyvale and Sunnyvale Baby Bullet Caltrain stations.

The HFF debt placement team representing the borrower was led by Brandon
Roth, Bruce Ganong, Peter Smyslowski and Bercut Smith.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the
California Department of Real Estate, License Number 01385740.

About Harvest Properties

Harvest Properties is a vertically-integrated, full-service commercial
real estate investment firm that specializes in the acquisition,
repositioning, development and management of commercial property,
primarily through joint-venture investments throughout Northern
California. Over the last decade, Harvest has become an established
leader in the marketplace by generating attractive returns for its
financial partners, providing creative solutions and outstanding service.

About Invesco Real Estate

Invesco Real Estate is a global leader in the real estate investment
management business with $68.8 billion in real estate assets under
management, 508 employees and 21 regional offices across the U.S.,
Europe and Asia (as of 03/31/2019). Invesco Real Estate has been
actively investing in core, value-add and opportunistic real estate
strategies since 1992. Invesco Real Estate is a business name of Invesco
Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd.
Invesco Ltd. is an independent investment management firm dedicated to
delivering an investment experience that helps people get more out of
life. NYSE: IVZ; invesco.com.

About ACORE Capital

ACORE Capital, LP is a commercial real estate finance company focused on
originating, acquiring and managing first mortgages, B-notes, mezzanine
debt and preferred equity throughout the United States. ACORE, which is
an acronym for Alpha Commercial Real Estate, specializes in providing
borrowers with customized financing solutions at competitive rates and
flexible terms. For investors, ACORE is focused on generating alpha
through attractive commercial real estate debt investments coupled with
superior risk management. ACORE is led by commercial real estate finance
veterans Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan. For
more information, please visit www.acorecapital.com.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE: HF). For more information, please
visit hfflp.com
or follow HFF on Twitter @HFF.

Contacts

BRUCE GANONG
CA Lic. #013332792
HFF Senior Managing
Director
(415) 276-6940
bganong@hfflp.com

BRANDON ROTH
CA Lic. #01767532
HFF Senior Director
(415)
276-6300
broth@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617)
848-1572
krmurphy@hfflp.com