HFF announces $145 Million construction financing for renovation and expansion of 633 Folsom in San Francisco

633 Folsom office tower, SOMA submarket, San Francisco, CA

SAN FRANCISCO, CA –– HFF announces $145 million in construction financing for 633 Folsom, a seven-story, 171,632-square-foot office building in the SOMA submarket of San Francisco, California.

Bruce Ganong

The HFF team worked on behalf of the borrower, The Swig Company LLC, to secure the construction loan through a domestic bank.  Loan proceeds will be used to complete a full building renovation and expansion, which will add five floors and transform the property into a 12-story, 266,053-square-foot, Class A office building.

Originally built in 1967 by The Swig Company, 633 Folsom has been fully leased for the past 20 years, most recently to California Pacific Medical Center. 

The renovation and expansion project is scheduled to commence in the Summer of 2018 and construction of the new five-story addition will increase the rentable area by over 94,000 square feet and raise the height of the building from 92 feet to approximately 165 feet.

The HFF debt placement team representing the borrower consisted of senior managing director Bruce Ganong and analyst Bercut Smith.

“The planned repositioning and expansion of 633 Folsom coincides with a shift in leasing patterns from traditional tenants seeking 5,000 to 10,000 square feet to large users establishing new headquarters or satellite campus locations in the San Francisco CBD,” said Ganong.  “It will be exciting to watch The Swig Company execute its plan to transform 633 Folsom into a Class A building.”

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

  For more information, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

www.swigco.com.