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Goldman Sachs And Barclays Provide $500M Refinance For Uber's Global HQ In San Francisco

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FINANCED
$500,000,000

California

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Office
Financed 02/11/2025
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FINANCED

Goldman Sachs And Barclays Provide $500M Refinance For Uber's Global HQ In San Francisco

1655 3rd Street

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Office
Financed 02/11/2025
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Summary

CALIFORNIA
Asset Type:Office
Transaction Type:Loan

The property asset involved in this transaction is an office complex located at 1655 and 1725 3rd Street in the Mission Bay area of San Francisco. The total loan amount secured for this asset is $500,000,000, and it encompasses a square footage of 586,208 SF. The refinancing secured is a five-year, non-recourse loan.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $500,000,000
  • Address: 1655 & 1725 3rd Street
  • Market: San Francisco
  • Lender: Goldman Sachs & Barclays Bank
  • Landlord: Peter M. Moglia - Alexandria Real Estate Equities, Inc; Dara Khosrowshahi - Uber Technologies, Inc; Joe Lacob - Golden State Warrior
  • Brokers: Brad Zampa & Mike Walker - CBRE
  • Loan Type: Refinance
  • Loan Terms: five-year, non-recourse

CBRE arranged this refinancing deal for the joint venture that includes Alexandria Real Estate, Uber, and the Golden State Warriors. Goldman Sachs and Barclays provided the loan, which is intended to support Uber's global headquarters.

Players

Bradford "Brad" Zampa
20 deals$2.1B volume
BROKER

Michael "Mike" Walker
CBRE
19 deals$2.1B volume
BROKER

Barclays Bank
LENDER

Details

FINANCED
IMAGE: Peter M. Moglia, Dara Khosrowshahi, Joe Lacob, Brad Zampa & Mike Walker DATE: 02/11/2025 ADDRESS: 1655 & 1725 3rd Street MARKET: San Francisco ASSET TYPE: Office LENDER: Goldman Sachs (@GoldmanSachs) & Barclays Bank (@BarclaysBankUS) LANDLORD: Peter M. Moglia - Alexandria Real Estate Equities, Inc; Dara Khosrowshahi - Uber Technologies, Inc; Joe Lacob - Golden State Warrior (@Warriors) BROKERS: Brad Zampa & Mike Walker - CBRE (@CBRE) LOAN AMOUNT: $500,000,000 LOAN TYPE: Refinance LOAN TERMS: five-year, non-recourse NOTE: CBRE arranged $500M in refinancing for Uber’s global HQ at 1655 and 1725 Third St. in San Francisco on behalf of a JV including Alexandria Real Estate, Uber, and the Golden State Warriors. Goldman Sachs and Barclays provided the five-year, fixed-rate CMBS/SASB loan for the 586,208 SF Mission Bay office complex.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$500,000,000.00

Monthly NOI$3,333,333.33
Monthly Debt Service$3,160,340.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00