SAN FRANCISCO—HFF has arranged $81 million in financing for 475 Sansome Street, a 21-story, 353,269-square-foot, Class A office building in San Francisco.
HFF worked on behalf Multi-Employer Property Trust (“MEPT”) and MEPT's real estate advisor, Bentall Kennedy, to secure the 10-year, fixed-rate loan through Prudential Mortgage Capital Company.
The property is located in the North Financial District submarket adjacent to two of San Francisco's landmark office properties, Transamerica Pyramid Center and the Embarcadero Center. Renovated most recently in 2012, the LEED-EB Gold office building is 90% leased to tenants including Oracle, Amazon.com, Bank of the West and Yahoo!, who combined occupy more than half of the property.
The HFF team representing the borrower was led by senior managing director Bruce Ganong, managing director Cary Abod and director Chris Gandy.
“Interest in the financing assignment was solid with competitive proposals from numerous life insurance companies and commercial banks. MEPT benefitted from an enthusiastic response from portfolio lenders attracted by the asset's quality, strength of market, and reputation of the sponsor,” said Ganong.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
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