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| Lillian Roos |
SAN FRANCISCO, CA – JLL Capital Markets has arranged a $190 million refinancing for 633 Folsom St., a fully leased, 271,000-square-foot, Class A office building in the SOMA submarket of San Francisco, California.
JLL worked on behalf of the borrower, The Swig
Company, to secure the seven-year, fixed-rate loan through Bank of China.
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| Bruce Ganong |
Originally developed in 1967, 633 Folsom St. underwent a significant renovation and expansion completed in 2021 that added five new floors, all new building systems, exterior façade and an outdoor plaza.
The property is now the new home and
corporate headquarters location for Asana, a cloud-based application for
workplace management and team collaboration.
633 Folsom St. is located in the heart of the SOMA
submarket offering quick access to local public transportation and Interstates
80 and 280.
Additionally, the
property is surrounded by many dining, entertainment and retail amenities
throughout San Francisco’s financial district.
The JLL Capital Markets debt team that
represented the borrower was led by Senior Managing Director Bruce Ganong,
Associate Lillian Roos and Analyst Spencer Bergthold.
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| Spencer Bergthold |
“It was a privilege to work with the Swig team again to help secure a long-term financing solution to refinance the construction loan that we helped arrange over three years ago,” said Ganong.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.
The firm has more than
3,000 Capital Markets specialists worldwide with offices in nearly 50
countries.
For more news, videos and research resources on JLL, please visit our newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
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