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| 201 Folsom condominiums rendering, downtown San Francisco, CA |
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| 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.
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| 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.
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| 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.
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| 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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