Originally completed in 1902 at 116 New Montgomery St. in theSouth Financial District, the Rialto Building has eight stories ofoffice space above street-level and mezzanine retail space. Theproperty is 88% occupied by tenants including Trust for PublicLand, Walgreens and Chipotle Grill.
Wilemon and director Zane Sweet (HFF San Francisco) worked onbehalf of Steven Firtel, corporate counsel and director ofdevelopment for Bomel. Firtel says the financing "will enable us toimplement a long-term leasing and capital improvements plan on theRialto."
HFF managing director Larry Wilemon says proceeds from thethree-year loan also are being used to defease the existing loan onthe property and pay off an unsecured note. Bomel intends to holdthe property long term, he says.
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