KKR Secures $600 Million Refinance For Mission Bay Campus At 1800 Owens Street With Barclays Wells Fargo Goldman Sachs

The property involved in the transaction is an office asset located at 1800 Owens Street in San Francisco. The total asset size is 750,000 square feet, and the loan amount for the property stands at $600,000,000, which is categorized as a refinance deal.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $600,000,000
• Address: 1800 Owens Street
• Market: San Francisco
• Lender: Barclays, Wells Fargo & Goldman Sachs
• Landlord: Joseph Bae & Scott Nuttall - KKR
• Loan Type: Refinance

This transaction includes key individuals Joseph Bae and Scott Nuttall, who represent KKR. The refinancing replaces existing debt for the four-building Mission Bay campus. The asset is now partially occupied by OpenAI, which has subleased space from Dropbox as the latter gradually exits its space by 2033. The deal reflects a more challenging rate environment compared to the conditions present in 2021, when KKR acquired the asset for over $1 billion.