SAN FRANCISCO, CA – January 12, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $33.67 million in acquisition and capital improvement financing for Latham Square, a 116,056-square-foot historic office building in the heart of Oakland’s Uptown neighborhood.
HFF worked on behalf of the borrower, Bentall Kennedy, to place the floating-rate loan with a prominent domestic bank.
Latham Square is a Beaux Arts-style building comprising 14 floors plus a penthouse and two subterranean levels of parking. Constructed originally in 1927, the property recently underwent the first phase of renovations, including a seismic retrofit, new lobby, façade, signage, tenant lounge, conference center, bike locker facilities and showers. The LEED® Gold property is in the process of being converted from significantly multi-tenanted floor plans to full or half-floor suites with creative build-outs, with approximately half of the suites already converted. Situated on .241 acres at 1611 Telegraph Avenue, Latham Square is in the rejuvenated Uptown submarket of Oakland one block from the 19th Street BART Station and within walking distance to two of The FREE B on Broadway Shuttle stops, which connects Uptown, Downtown, Jack London Square and the Valdez Triangle. Freeway access to Interstates 80 and 880 is proximate to the building.
The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong, associate director Brandon Roth and associate Zachary Kersten.
“HFF was pleased to assist Bentall Kennedy in financing this acquisition, and the lender delivered a custom-tailored financing solution for their business plan” said Ganong
About Bentall Kennedy
Bentall Kennedy, a Sun Life Investment Management company, is one of the 30 largest global real estate investment advisors and one of North America’s foremost providers of real estate services. Bentall Kennedy (which includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates) serves the interests of more than 550 institutional clients and investors, and manages approximately $35 billion of assets across 60 million square feet of office, retail, industrial, and multi-residential properties throughout Canada and the U.S. (as of September 30, 2016). For more information, visit bentallkennedy.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.