SAN FRANCISCO-Jackson Street Properties LLC has secured $16,000,000 in funding through Bear Stearns for its recently renovated 61,000-sf office building in San Francisco. L.J. Melody & Company and CB Richard Ellis arranged the variable-rate financing for the four-story property at 405-445 Jackson St.

Mary McDonald of L.J. Melody tells that the building underwent extensive renovation last year. The project contains offices, high-end retail space and a gallery of American paintings.

“The lender structured a deal that really fit in a rapidly changing market place,” said McDonald. “We had a lot of changes in the market between November (when the application process began) and now, and a lot of things changed in that time period. Bear Stearns really demonstrated willingness to structure changes.”

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