Preylock Holdings Secures $180.5M Loan From JP Morgan Chase For Nvidia's Santa Clara HQ | 2220 Central Expressway | J.P. Morgan Chase & Company | Office | Loan

Summary

Loan

CALIFORNIA

Office

550,000 sqft

The Santa Clara office property located at 2220 Central Expressway has recently undergone a loan transaction. The asset, spanning 550,000 square feet, was involved in a refinancing deal.

Summary of Transaction Details

Property Type: Office
Transaction Amount: $180,500,000
Address: 2220 Central Expressway
Market: Santa Clara

Key individuals and entities in this transaction included JP Morgan Chase as the lender, and Brett Lipman and Steve Shokouhi of Preylock Holdings as the landlords. Preylock Holdings secured a loan of $180.5 million from JP Morgan Chase Bank. The purpose of the loan was to refinance the property, pay off a previous loan, finance tenant improvements, and take advantage of the appreciated value of the asset.

Players

All
1

Lenders
1

J.P. Morgan Chase & Company

Details

Deal Summary

FINANCED

IMAGE: Brett Lipman, Jensen Huang & Steve Shokouhi DATE: 01/26/2024 ADDRESS: 2220 Central Expressway MARKET: Santa Clara ASSET TYPE: Office ~ SF: 550,000 LENDER: JP Morgan Chase (@JPMorgan) LANDLORD: Brett Lipman & Steve Shokouhi - Preylock Holdings LOAN AMOUNT: $180,500,000 LOAN TYPE: Refinance LOAN TERMS: five-year NOTE: Preylock Holdings secured $180.5 million in debt from JPMorgan Chase Bank to finance Nvidia's Santa Clara headquarters, leveraging the AI software company's soaring stock price. The funds were used to pay off a previous loan, fund tenant improvements, and capitalize on the appreciated property value.

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Address2220 Central Expressway

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