Fully Entitled Mountain View Mixed-Use Project Receives $250M In Financing
HFF has secured $250M in financing for Broadreach Capital Partners’ development of Ameswell Mountain View. The project is a fully entitled, mixed-use development with a 255-room upscale independent hotel and a 217K SF Class-A, LEED Platinum office building in Mountain View.
The HFF team also arranged a JV equity partnership between Broadreach Capital and Rockwood Capital. The total financing HFF arranged included $140M in construction financing with Wells Fargo Bank.
“Ameswell is one of the last fully entitled mixed-use development sites in Mountain View with prominent visibility from Highways 101 and 85,” HFF Senior Director Ben Bullock said in a statement. “With a submarket vacancy rate of less than 5% for Class-A office in Mountain View, Ameswell is poised to capitalize on the abundant tenant demand for new product.”
The development is surrounded by the largest technology companies in the world, venture capital and a highly educated workforce. Google, Amazon, Microsoft, Apple and Intuit are within a 2.5-mile radius of the project. The Mountain View Baby Bullet Caltrain station is less than 1 mile from the property.
The Ameswell Hotel will feature a 6,258 SF meeting and event space, food and beverage offerings including a destination bar and restaurant and a curated grab-and-go market, and outdoor gathering spaces with a swimming pool, fire pits, a bocce ball court and a large lawn.
The steel-frame, five-story LEED Platinum creative office building will have floor-to-ceiling glass lines that provide abundant natural light, 14-foot ceilings and 47K SF floor plates. Amenities include a 2.5-acre park, terraces and breakout areas, dedicated bike and pedestrian trails and electric vehicle charging stations. The site will include a six-tier parking structure.
HFF Senior Managing Directors Bruce Ganong and Michael Leggett, Senior Director Ben Bullock, Director Thomas Foley and analysts Austin White and Bercut Smith made up the equity and debt placement team working on behalf of Broadreach Capital Partners.
