News
The Next Big Investment?
July 11, 2012
| At Bisnow’s San Francisco Investment Summit (coming July 31, cue ominous music) at the City Club, we’ll feature panels on the outlook for debt and equity. Yesterday, we chatted with two of the experts you'll be seeing. No spoilers, please. |
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| Allen Matkins partner Tony Natsis spun a recent transaction that shows warming up in investment activity: prepackaged development deals. Dostart Development and Rockwood Capital entitled and leased a 340k SF office campus in Mountain View to Synopsis Inc, then sold the site to Tony’s client Kilroy Realty, which will build it and move in the tenant: “If people can underwrite those deals, which have some amount of risk, it means they’re getting that much more aggressive and optimistic about acquisitions.” Tony, who will be our moderator, just got back from seeing daughter Marialexa's team place 11th in the Junior Olympic girls’ volleyball championship in Columbus, Ohio—only 32 teams were invited to compete, out of about 4,000 in the nation. And in two weeks, the proud dad is off to Des Moines, where Marialexa has been chosen for an all-star team. |
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| Earlier this year, Mesa West Capital provided a $130M first mortgage to refi the Hyatt Regency San Francisco. Principal Ronnie Gul, who will be a panelist on July 31, tells us that in the last 24 months, he and his team have closed $350M in loan volume in the Bay Area, including $200M in Silicon Valley office and R&D product. The firm has been active lending on value-add transitional assets, financing good quality real estate that it believed would fill up. For example, Mesa West bought a $130M note on Phase 1 of Moffett Towers in Sunnyvale—three buildings totaling nearly 1M SF, which were 13% leased. When he’s not looking for opportunities from his mobile office, Southwest Airlines, Ronnie spends as much time as possible with family, including a young daughter and son. |
