Facebook's new campus for Oculus gets $515 million of financing
The developer building Facebook’s new campus just south of San Francisco received $515 million in financing for the project from JPMorgan and Starwood Property Trust this week.
Known as Burlingame Point, the 803,000-square-foot campus will eventually house Oculus, the virtual reality arm of the social media behemoth. It’s the largest lease ever signed in San Francisco, said Mike Moran, one of the lead brokers at Cushman & Wakefield, which arranged the financing for the developer Kylli Inc.
“It’s a testament to Kylli’s foresight and their ability to bring world-class products to the market,” Moran said.
The new development, which is situated on the waterfront will have four office buildings and a fifth amenity building, Moran added. It also includes a full ground floor of retail and dining options; a coffee shop open to the public; a modern gym facility and outdoor green spaces.
The full campus is expected to be completed in 2020, although the first building could be finished by the end of the year, Moran said.