CushWake Looks to Secure $1.5B Financing for Net Zero Project in San Jose
Cushman & Wakefield is out to market looking to secure up to $1.5 billion in financing for a largescale net zero initiative in the center in downtown San Jose, CA. Developed by the partnership of Westbank, Urban Community, Peterson and OPTrust, the initiative encompasses seven projects forming a Silicon Valley campus that will bring together housing, workspace, retail, public space, amenities and nature.
“We are raising capital for projects valued at over a billion-and-a-half dollars, which will likely be through a combination of senior financing and subordinate financing. There is tremendous growth happening in San Jose and we believe having differentiated net zero product like this creates an exceptional investment opportunity,” said Cushman and Wakefield’s Dave Karson, part of the team that also includes Steve Kohn, Chris Moyer, Alex Lapidus and Meredith Donovan.
The first projects to start construction include Park Habitat, a 1.3-million-square-foot workspace, the Bank of Italy, a 130,000-square-foot historic landmark being redone as mixed-use workspace and The Orchard Residential, a 540-unit multifamily tower.
- ◦Development
