Madison Capital has purchased Seagate Technology Holdings plc’s Fremont research and development campus for $260 million, according to the Silicon Valley Business Journal. Ireland-based Seagate agreed to lease back the campus for an undisclosed period. The New York City-based Madison Capital obtained $172 million in acquisition financing from Citi Real Estate Funding, UBS AG and Wells Fargo Bank. Approximately one-third of the 30-acre campus remains undeveloped, offering a potential development opportunity.
Seagate purchased the 47488 Kato Rd., Fremont property from Solyndra Inc., a solar energy startup that had filed for bankruptcy three years earlier, at a cost of $90.3 million in 2014; shortly after announcing 3,000 job cuts last fall they put it on the market again.. Photo credit: Coolcaesar/Wikipedia .
