KKR Real Estate Finance Trust Inc. (KREF) and TMG Partners made it official Monday, announcing the lease of 350-380 Ellis, a Class A campus in Mountain View, to OpenAI. The five-building campus spans 450,000 square feet.
KREF selected TMG in 2024 to reposition the campus into a future-ready workplace for leading global technology companies. “When we took ownership of 350–380 Ellis, we saw the opportunity to apply the full breadth of KKR’s real estate capabilities to create long-term value in one of the world’s most important technology and growth corridors,” said Matt Salem, KREF CEO and head of real estate credit at KKR.
He continued, “We believed this institutional-quality Class A campus would resonate with a forward-thinking, high-growth company. We are pleased to welcome OpenAI to the property. Executing a full-building lease in under two years underscores the asset’s positioning and our disciplined approach to value creation.”
Newmark’s executive managing director Jon Mackey, vice chairman Mike Saign and executive vice chairman Phil Mahoney represented ownership in leasing negotiations. JLL’s Mike Ino, Jon Moeller, Dan Johnson, Rich Duff and Bridget Fahey represented OpenAI.
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