Thursday, April 25, 2013

HFF arranges $81 million in financing for Class A office building in San Francisco, CA

475 Samsone Street, San Francisco, CA

SAN FRANCISCO, CA – HFF announced today that it has arranged $81 million in financing for 475 Sansome Street, a 21-story, 353,269-square-foot, Class A office building in San Francisco.

Bruce Ganong
                HFF worked on behalf Multi-Employer Property Trust (“MEPT”) and MEPT’s real estate advisor, Bentall Kennedy, to secure the 10-year, fixed-rate loan through Prudential Mortgage Capital Company.

                The property is located in the North Financial District submarket adjacent to two of San Francisco’s landmark office properties, Transamerica Pyramid Center and the Embarcadero Center. 

Renovated most recently in 2012, the LEED®-EB Gold office building is 90 percent leased to tenants including Oracle,, Bank of the West and Yahoo!, who combined occupy more than half of the property.

Cary Abod
The HFF team representing the borrower was led by senior managing director Bruce Ganong, managing director Cary Abod and director Chris Gandy. 

“Interest in the financing assignment was solid with competitive proposals from numerous life insurance companies and commercial banks.  MEPT benefitted from an enthusiastic response from portfolio lenders attracted by the asset’s quality, strength of market, and reputation of the sponsor,” said Ganong.

MEPT is a $5.7 billion, open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in 30 major metropolitan markets across the U.S.

Chris Gandy
 Founded in 1982, MEPT is owned by approximately 340 multi-employer, public employee and corporate pension plans.  MEPT is recognized as a pioneer in Responsible Property Investing (RPI) and is one of the largest U.S. real estate funds that is signatory to the UN Principals for Responsible Investment (UN PRI).

Bentall Kennedy is one of North America’s largest real estate investment advisors, providing its clients with access to one comprehensive North American real estate platform.  Bentall Kennedy serves the interests of more than 500 clients on assets of more than $30 billion across 140 million square feet of office, retail, industrial and multifamily properties.

For a complete copy of the company’s news release, please contact:

 Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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