SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced has arranged $56.34 million in financing for the acquisition of SFO Logistics Center, (top right aerial) an existing industrial property and adjacent 5.2-acre land parcel in south San Francisco, California.HFF managing director Peter Smyslowski and executive managing director Scott McMullin (HFF Los Angeles) (middle left photo) worked on behalf of Centrum Properties, Inc. and Angelo, Gordon & Co. to secure the 36-month, non-recourse, adjustable-rate loan through Capmark Finance, Inc.
The loan amount represents 70% of the total project capitalizatio
n and carries a risked based of 3.25% over the 30 Day LIBOR index. Loan proceeds were used to acquire the assets and will fund repositioning of the partially leased property.
n and carries a risked based of 3.25% over the 30 Day LIBOR index. Loan proceeds were used to acquire the assets and will fund repositioning of the partially leased property. The SFO Logistics Center consists of an existing 571,913-square-foot warehouse distribution center situated on 19.5 acres and an adjacent 5.2-acre “small parcel”. The borrower is proposing the addition of numerous loading slips and 52,200 square feet of newly constructed, industrial buildings to the “small parcel”.
In addition, the “small parcel” will allow for greater mobility for the tractor trailers and additional parking.
Located at 1070 San Mateo Avenue, The SFO Logistics Center is one quarter mile from the San Francisco International Airport close to the intersection of Interstates 280 and 380 and The Bayshore Freeway in southern San Francisco. 
“The SFO Logistics Center has historically been used as a government services distribution facility,” said Smyslowski.
“The SFO Logistics Center has historically been used as a government services distribution facility,” said Smyslowski.
“The borrower realized an opportunity to take an existing asset with strong distribution qualities and an irreplaceable location, add immense value by merging the property with the adjacent site, which will greatly enhance the distribution and logistical qualities of the asset.”
Centrum Properties is a Chicago-based developer formed in 1980 that focuses on distinctive mixed-use, residential and commercial properties throughout the United States. Angelo, Gordon & Co. is a privately-held investment advisor having invested in $5 billion of commercial real estate since its founding in 1993.
CONTACTS:
CONTACTS:
Peter Smyslowski, HFF Managing Director, 415 276 6300, psmyslowski@hfflp.comLaurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
