Tuesday, July 2, 2013

HFF arranges $371.7 million financing for luxury high-rise condominium project in San Francisco


201 Folsom condominiums rendering, downtown San Francisco, CA

Mike Tepedino
NEW YORK, NY – HFF announced today that it has arranged $371.7 million in non-recourse construction financing on behalf of Tishman Speyer for 201 Folsom, a two-tower, 655-unit, luxury condominium development in the heart of downtown San Francisco.

Bruce Ganong
                201 Folsom was designed by world-renowned architecture firm Arquitectonica and will encompass two high-rise towers (42- and 37-stories) and two mid-rise podiums arranged around a private courtyard. 

The project will also include 10,963 square feet of ground-floor retail and amenities such as concierge service, valet parking, a private health club and spa, swimming pool, private dining, rooftop community space and a private screening room.

Michael Gigliotti
 The 1.7-acre site is situated directly across from The Infinity, which was also developed by Tishman Speyer and is the largest residential condominium development ever built in San Francisco.

 The first podium is due for completion in March 2015 and the final building is scheduled to be completed in January 2016. 

                The HFF team, led by senior managing directors Mike Tepedino and Bruce Ganong and team members Michael Gigliotti, Jennifer Keller and Brandon Roth, secured a single source lender in Cornerstone Real Estate Advisers, on behalf of an institutional investor, to provide the non-recourse construction financing.

Jennifer Keller
“We are very pleased to have assisted Tishman in securing financing for this landmark project.  Investors were extremely responsive to the strong performance of Tishman’s nearby condominium development, The Infinity, as well as the excellent location within the much sought-after Rincon Hill neighborhood,” commented Tepedino.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com



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