 |
| 501 Second Street, SOMA submarket, San Francisco, CA |
 |
| Bruce Ganong |
SAN
FRANCISCO, CA, June 1, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced
today that it has arranged $75 million to refinance 501 Second Street, a seven-story, 208,000-square-foot, Class A
creative office property owned by The Swig Company in San Francisco’s SOMA
submarket.
HFF worked
on behalf of The Swig Company to secure the 10-year, fixed-rate loan through
John Hancock.
501 Second
Street is located at 2nd and Bryant Streets, just three blocks from AT&T
Park and in close proximity to the Central Subway project that will be
completed in 2019.
It is also convenient to Caltrain, Muni, and
BART, as well as Interstates 80 and 280, and Highway 101.
Originally built in 1925, the property has
been continually upgraded by The Swig Company and is fully-leased to 17 tenants
representing a variety of industries including technology, media, architecture,
and venture capital.
501 Second Street
features large efficient floor plates and one-level of below-grade parking.
The HFF debt
placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Brandon Roth.
 |
| Brandon Roth |
“We are
delighted to lock-in a great loan at favorable interest rate for one of the
company’s signature long-term assets.
The team at HFF and John Hancock made the process seamless and very
user-friendly,” reported Connor Kidd,
V.P. of investments for The Swig Company.
“Strong
sponsorship combined with an institutional quality asset that enjoys stable
cash flow and a diverse rent roll, resulted in a very competitive response from
life insurance companies and commercial banks,” said Ganong.
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
No comments:
Post a Comment