BURLINGAME, California – (BUSINESS WIRE) – Cushman & Wakefield (NYSE: CWK) announced that the real estate services company has acted as the exclusive advisor to Kylli, Inc. affiliates on raising $ 750 million to refinance Burlingame Point, a brand new state-the art office campus on the San Francisco Peninsula. The 9.3 year fixed income financing was provided by affiliates of Goldman Sachs, JP Morgan, Deutsche Bank and Athene Annuity & Life Company (through Apollo Global Management).
Burlingame Point is a LEED Gold-certified property with four class A office / R&D / life science buildings with a total area of approx. 771,000 rentable square meters, a 33,000 square meter facility building and more than 2,300 parking spaces on site .
“We are proud to have delivered this outstanding project in such unprecedented times and look forward to seeing Burlingame Point fully activated,” said Ou Sun, CEO of Kylli.
A Cushman & Wakefield Equity, Debt & Structured Finance team made up 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 2019. Mike Moran and Clarke Funkhouser from Cushman & Wakefield supported the leasing market.
“Kylli has developed a first-class office campus, the quality of which has resulted in extremely attractive leasing and financing arrangements,” said Kohn.
Centrally located between Silicon Valley and downtown San Francisco, Burlingame Point is the newest premier office building on the San Francisco Peninsula boardwalk. The property sits on 18 acres and offers tenants an abundance of waterfront promenades, communal spaces, and open green spaces.
Burlingame Point provides access to a dynamic Bay Area business environment that is just a few miles from 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 companies.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services company delivering exceptional value to real estate users and owners. With around 50,000 employees in over 400 offices and 60 countries, Cushman & Wakefield is one of the largest real estate services companies. In 2020, the company had sales of $ 7.8 billion in its core areas of real estate, asset and project management, leasing, capital markets, valuation and other services. To find out more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Kylli, Inc.
Kylli is a full-service investment holding company focused on developing, operating and managing institutional-grade real estate assets in the San Francisco Bay Area. Kylli’s current portfolio includes 225 Bush in San Francisco, California, Burlingame Point in Burlingame, California, and Mission Point in Santa Clara, California. Further information is available at www.kylli.com.
