Hines Secures $120.3 Million Construction Loan From Bank OZK For Edenville Business Park In San Jose

The asset involved in this transaction is Edenville Business Park, an industrial development located at 550-650 Piercy Road in San Jose, California. The development covers an expansive area of 45 acres and includes a total square footage of 636,000. The project is intended for warehouse and advanced manufacturing tenants, highlighting the demand for new industrial spaces within the Silicon Valley market.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $120,300,000
• Loan Type: Construction Loan
• Lender: Bank OZK
• Subordinate Lender: Affinius Capital
• Landlord: Laura Hines-Pierce - Hines
• Brokers: Chris Gandy & Kevin MacKenzie - JLL

The key individuals involved in this transaction include Eric Cohen, who represents Affinius Capital, and the landlord, Laura Hines-Pierce from Hines. The arrangement for this financing was executed by brokers Chris Gandy and Kevin MacKenzie of JLL, who facilitated both portions of the loan. The project is strategically located near Highway 101, making it accessible and ideally positioned to serve the needs of future tenants.