BURLINGAME, CA / NEW YORK, NY, April 23, 2019 – Cushman & Wakefield announced today the firm served as the exclusive advisor to Kylli, Inc. in the procurement of $515 million in financing for Burlingame Point, a brand new, state of the art 803,000-square-foot office campus in Burlingame, California. The construction financing was provided by J. P. Morgan and Starwood Property Trust.
Burlingame Point is currently fully leased to Facebook, Inc. for occupancy by Oculus, Facebook’s virtual reality company. The campus is expected to be completed in 2020.
A Cushman & Wakefield team led by Steve Kohn and Mike Moran with Chris Moyer, Terry Daly, Clarke Funkhouser, Noble Carpenter III and Jessica Ke represented Kylli, Inc. in procuring the financing.
“The market for construction and transitional financing has been bursting at the seams over the past year with well-located office development for world-class technology, biotechnology and life science companies on the radar of more lenders and investors,” said Steve Kohn. “Special projects like Burlingame Point are attracting capital and tenants from around the world.”
“Burlingame Point presented an ideal opportunity for lenders to finance an irreplaceable, 803,000 square foot office campus preleased to Facebook,” added Chris Moyer.
“Our deep real estate experience has allowed us to establish our position in the U.S. as a forward-thinking owner/investor together with being an innovative developer,” said Ou Sun, CFO and Secretary of Kylli, Inc. “We continue to construct high quality Class A projects of scale in the San Francisco Bay Area and around the country designed to meet the needs and complexities of our tenants as well as our communities. Partnering with stellar, industry-leading companies such as Cushman & Wakefield, J.P. Morgan, and Starwood has also contributed to our success.”
Burlingame Point is situated on the waterfront of the San Francisco Bay between Silicon Valley and San Francisco. Comprised of four office buildings, an amenity building and a parking structure, the modern office campus offers 360-degree views of the bay and surrounding mountains. Amenities at Burlingame Point include daily shuttle service to the nearby Caltrain and BART stations, a full ground floor of retail and dining options, a modern gym facility and outdoor green spaces. The property is also minutes from San Francisco International Airport as well as Highway 101 and Interstate 92.
In addition to Burlingame Point, Kylli, Inc. is working on Mission Point, a 10.5 million-square-foot mixed-use development located at 3005 Democracy Way in Santa Clara, Calif. The project is eight miles from Downtown San Jose and just minutes from a multitude of Fortune 500 companies including Apple and Google.
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 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Kylli, Inc. was established in October 2013 in California, and focuses on investment, development and management of institutional quality assets in the United States. Additional Bay Area properties owned by Kylli include 225 Bush in San Francisco and Mission Point in Santa Clara.