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1390 Market Street, San Francico, CA
SAN FRANCISCO, CA, May
21, 2018 – HFF announces the $109.8
million sale and the $103.61 million financing of a subdivided condominium
interest in 1390 Market Street, a transit-oriented, 219,711-square-foot
office building with ground-floor retail in San Francisco, California.
The HFF team
represented the seller, Broadreach Capital Partners, and procured the buyer,
Swift Real Estate Partners.
Additionally, the HFF team arranged a
floating-rate acquisition loan through Brookfield on behalf of the buyer.
1390 Market Street is
located in San Francisco’s Mid-Market, which has become one of the most
desirable neighborhoods for growing technology companies.
|
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| Gerry Rohm |
Originally built in
1967, 1390 Market Street was renovated in 2007 and features 218,791 square feet
of office space and 920 square feet of ground-floor retail.
The LEED Gold certified building is leased to
tenants, including Twitter, Jones Clifford and several branch offices of the
City of San Francisco. The property also includes apartments on the top
floors of the building, which were not a part of the sale or financing.
 |
| David Dokko |
“We are pleased with the acquisition of 1390 Market Street, and are excited to expand our presence in San Francisco,” said Tommy Christman, the asset manager of the acquisition. “We believe 1390 Market has the potential to be Mid-Market’s premiere multi-tenant destination appealing to a wide array of tenants, including those in government and tech.”
The HFF investment
advisory team representing the seller included senior managing directors Michael
Leggett and Gerry Rohm, senior directors David Dokko and Ben
Bullock, director Thomas Foley and analyst Austin White.
The HFF debt placement
team representing the borrower that arranged the Brookfield financing consisted
of senior director Jordan Angel and analyst Bercut Smith.
 |
| Ben Bullock |
Headquartered in San
Francisco, Swift Real Estate Partners (“Swift”) is a vertically integrated real
estate investment firm, which seeks to generate attractive risk-adjusted
returns for its investors.
Swift acquires and
repositions office and industrial assets in select West Coast markets,
identifying unique opportunities and executing well-defined business plans
while providing real-time, day-to-day oversight for each investment.
Since inception,
Swift has owned and operated real estate valued in excess of $3 billion across
more than eight million square feet.
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| Christopher Peatross |
Swift was founded in 2010 by Christopher
Peatross.
For more information, please contact:
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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