Dublin, CA (PRWEB) August 17, 2010
Tishman Speyer announced recently that it has recapitalized its Dublin Corporate Center office campus by buying back all of the property's debt at a discount and committing new capital that will be used to fund future capital expenditures and leasing costs.
The announcement follows several other debt transactions completed by the firm, including recent large portfolio debt restructurings in Chicago and Washington, DC, and the restructuring of property debt for a downtown Seattle office tower.
"This substantial commitment of new capital illustrates our overall positive view of the Tri-Valley submarket east of San Francisco. More specifically, it signifies our desire to continue ownership of one of the area's finest properties situated at one of the best locations. We look forward to continue providing our tenants with superior office accommodations at Dublin Corporate Center," said Tishman Speyer Co-CEOs Jerry Speyer and Rob Speyer.
Dublin Corporate Center is an 18.6-acre Class A office campus consisting of three four-story office buildings totaling 440,278 square feet. It is strategically located along the 580 corridor in the Dublin submarket, which is part of the greater Tri-Valley market and is one of the fastest growing submarkets in the San Francisco Bay Area. The Tri-Valley's attractive demographics, excellent amenities, and extensive public and private transportation infrastructure have made it one of the most desirable markets in the Bay Area for large, credit-worthy corporate tenants.
About Tishman Speyer
Tishman Speyer is one of the leading owners, developers, operators, and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York's Rockefeller Center and Chrysler Center, Berlin's Sony Center and Torre Norte in São Paolo, Brazil.