Monday, February 23, 2015

HFF arranges $30 million financing for office tower in downtown San Diego, CA


101 Ash Street, Downtown San Diego, CA


Tim Wright
SAN DIEGO, CA  – HFF announced today that it has arranged $30 million in financing for 101 Ash, a 347,087-square-foot office tower with subterranean parking in downtown San Diego, California.

                HFF worked on behalf of the borrower, The Gas & Electric Headquarters Building – San Diego, LP, an entity controlled by Shapery Enterprises, to secure the loan.  

                101 Ash Street is located in the heart of downtown San Diego in the Broadway Corridor.  The property is adjacent to the Civic Center and is currently within walking distance to the bay front, Little Italy and the Gaslamp District.  It is approximately three blocks from the on and off ramps for Interstate 5.

 The asset offers views of the San Diego Bay, downtown, Coronado Island, Balboa Park and the Pacific Ocean.  

Currently one hundred percent leased to Sempra Energy, the 21-story building will be repositioned at the expiration of Sempra’s lease mid-year.


The HFF team representing the borrower was led by senior managing director Tim Wright and director Zack Holderman.

“Working with a forward-thinking sponsorship team and being able to market a well-maintained office asset such as the 101 building enabled us to successfully structure a loan that both addressed the looming lease expiration and the long-term strategic repositioning plan for the asset,” Holderman said. 

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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