Sunday, July 28, 2019

JLL arranges $76.8 million financing for development of 1554 Market Street in San Francisco, CA


1554 Market Street, a 109-unit condominium project 
located in downtown San Francisco.

SAN FRANCISCO, CA – JLL announces that it has arranged $76.8 million in financing for the development of 1554 Market Street, a 109-unit condominium project located in downtown San Francisco.

JLL worked on behalf of the borrower, Z&L Properties, Inc., to place the five-year, floating-rate construction loan with Barings, on behalf of one of its managed accounts.

Brandon Roth
1554 Market Street is a fully-entitled project positioned near the intersection of Market Street and Van Ness Avenue directly across from the Van Ness Muni Metro Station in San Francisco’s Hub District. 

The transit-oriented development’s prime location has earned it a Walk Score® of 99, a Transit Score of 100 and Bike Score of 99 and positions it within eight blocks of more than 400 restaurants and bars. 

Due for completion in 2021, the property will encompass two 12-story buildings connected by a concrete corridor that will house 109 condominium units situated above a ground-floor lobby and 5,010 square feet of retail space as well as a 28-space subterranean parking garage.

The JLL Capital Markets team representing the borrower included senior director Brandon Roth and senior managing director Charles Halladay.

Charles Halladay
“The San Francisco condo market continues to be strong with record pricing achieved in the second quarter of 2019,” Roth said. 

“Lenders recognize that a severe housing shortage combined with employment growth and IPO’s from Uber, Lyft, Pinterest and others will lead to sustained demand from new buyers.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries. Jones Lang LaSalle Americas is a licensed real estate broker with the California Department of Real Estate, License Number 01223413.done deals

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


Contacts:

 Brandon RothJLL Senior Director
CA License No: 01767532
Phone:  +1 415 276 6300

 Charles HalladayJLL Senior Managing Director
CA License No: 01756300
Phone:  +1 415 276 6300

Olivia Hennessey, JLL Public Relations Specialist
Phone: +1 713 852 3403

Kelly Smith, Barings Media Relations
Phone: +1 980 417 5648

 Rachel White, Barings Media Relations
Phone: +1 980 417 5886

jll.com.
http://zlproperties.com/



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