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HQ @First Provides Hefty Profit in Recent Sale
HQ @First was recently acquired by an affiliate of New York City-based KKR for $535 million. KKR obtained a $408 million loan from JPMorgan Chase at the time of the purchase.
The three-tower 561,500-square-foot office complex is adjacent to State Route 237 near North First Street in San Jose. Its addresses are 110, 120 and 130 Holger Way and the large adjacent parking garage is located at 95 Headquarters Dr. An adjacent retail center has tenants Target, shops and restaurants.
Newmark’s Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak facilitated the transaction.
The seller was Mori Trust Co. Ltd., a Japan-based major real estate developer. In 2019, Mori Trust paid $429 million and in 2017, Lane Partners paid $225.5 million for HQ @First.
- ◦Sale/Acquisition
