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HFF Brokers Sale of Great America Place in Silicon Valley, Arranges $32 Million in Financing

Wearing two hats in a West Coast mega deal, HFF has brokered the sale of and arranged financing for Great America Place, three Class-A office/research and development buildings in Santa Clara, Calif.

HFF marketed the buildings on behalf of the seller, DJM Capital Partners, and procured the buyer, Newcastle Partners, which purchased the property for $45.8 million. HFF subsequently sourced equity and debt for Newcastle Partners by procuring an equity raise with Pearlmark Real Estate Partners while also securing a $32 million fixed-rate acquisition loan through Cantor Fitzgerald.

Great America Place consists of three 98% leased properties totaling 223,842 sq. ft. that were extensively renovated in 2008 and 2010. Major tenants include Aviat Networks, Trianz Inc. and TiE Silicon Valley.

The properties are located at 5200 Great America Parkway, 2903 Bunker Hill Lane and 2933 Bunker Hill Lane across the street from the Santa Clara Convention Center, the Network Meeting Center at Techmart and the adjoining Hyatt Regency Hotel.

Great America Place also is within walking distance to a light rail station and close to Interstate 880, Highway 101, Routes 237, 87 and 85 as well as the San Jose International Airport.

San Jose-based DJM Capital Partners is a provider of value-added private equity investment, development and asset management services within the real estate sector. DJM’s West Coast portfolio is valued in excess of $1 billion.

Newcastle Partners is a real estate investor and developer focused on industrial, office and business park properties in California, concentrating on the Los Angeles basin and the San Francisco Bay area. Newcastle Partners has offices in Irvine and San Francisco, Calif., and currently owns or has recently developed more than $528 million of properties in these two markets.

HFF, which operates out of 19 offices nationwide, provides commercial real estate and capital markets services to the U.S. commercial real estate industry. v

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