Real Estate Market Update - August 24, 2011

In This Issue:

Deals Updates

Office: Google signs lease for 715,500 square feet in Sunnyvale with space for 2,900 workers; Shorenstein, Worthe Acquire Former 20 acre Postal Service Site in Playa Vista; 3 MacArthur Latest Tower to Change Hands for $52 million; Kilroy Realty buys 2 office buildings for $248 million; Hudson Pacific Properties, Inc. Announces Completion of Acquisition of Rincon Center; Investment bank Houlihan Lokey to move into former MGM Tower in Century City in a $60 million lease transaction; and PIMCO to build 380,000 square foot office building in Newport Center.

EQUITY & DEBT UPDATES:

$108+ Million Dollar Refinance Concluded Between Red Mountain Retail Group & John Hancock Life Insurance Company (U.S.A.).

Google signs lease for 715,500 square feet in Sunnyvale with space for 2,900 workers

San Jose Mercury News - Aug 11

In the midst of an unprecedented growth spurt, Google (GOOG) said Wednesday it has struck a deal to lease four Sunnyvale buildings that could accommodate as many as 2,900 employees. The Sunnyvale campus would mark Google's largest presence in Silicon Valley outside of Mountain View.

Please see full update below for more information.

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