X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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 GlobeSt.com 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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.