Friday, March 10, 2017

Continental Partners Arranges Office Acquisition and Renovation Financing in Downtown San Francisco, CA


     Downtown San Francisco office property. Financing arranged by Continental Partners.                                                                                                      
 (Photo Credit: Architectural renderings provided by sponsor).

Eugene Rutenberg
SAN FRANCISCO, CA  – Commercial real estate investment banking firm Continental Partners has successfully secured $5.3 million in bridge to mini-perm financing for a 7,500 square-foot value-add office building located in the financial district of downtown San Francisco, to be converted into multifamily micro-units.

The financing was arranged by Continental Partners Director Eugene Rutenberg.

“Downtown San Francisco’s tremendous job growth in the tech and financial services industries is driving demand for quality housing in this thriving market,” says Rutenberg.

 “Due to the high cost of new construction and rising rental rates, however, San Francisco’s affordability crisis continues to place enormous pressure on renters. As demand for more affordable housing options continues to outpace supply, there is a unique opportunity for investors to capitalize on this demand by converting existing office space into more affordable micro-units.”

Continental Partners secured the $5.3 million loan from a regional bank to finance the total project cost of approximately $7.54 million. The bridge loan was sized to 103 percent of the purchase price, with a loan-to-cost leverage ratio of 71 percent.

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

Lauren Burgos / Katie Kea
Brower, Miller & Cole
(949) 955-7940

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