In the News 2/ 27/ 2020

NorthMarq recognized at San Francisco NAIOP Best of the Bay Awards

Briana Harney recognized as Developing Leader of the Year; One De Haro project won Financing Transaction of the Year

SAN FRANCISCO, CALIFORNIA (February 27, 2020) – NorthMarq’s San Francisco office featured prominently in the NAIOP “Best of the Bay” awards, winning “Developing Leader of the Year” and “Financing Transaction of the Year.” The award ceremony was held on Wednesday, February 19 during the NAIOP SFBA 8th annual Best of the Bay Awards Dinner. The event honors the best deals and dealmakers of the previous year.

Briana Harney (left) won “Developing Leader of the Year” as well as being involved with Dennis Williams (right) on their “Financing Transaction of the Year.”

Briana Harney – Developing Leader of the Year: As vice president in NorthMarq’s San Francisco office, Briana places both debt and equity for her clients, leveraging her knowledge of the market, a reliable out-to-market strategy, and strong relationships with lenders to bring the best capital markets execution to her clients.

Key transactions that contributed to her nomination included:
– One De Haro: $93 million in senior + mezzanine construction-to-perm financing for 133,000-sq.-ft. office and PDR development. Read more here.
– Firestone: $67 million in JV equity and construction financing for 130-unit urban mixed-use project in Downtown San Jose. Read more here.
– Menlo Gateway Phase I & II: Three loan placements totaling $447 million financed the construction and permanent debt on the 773,000-sq.-ft. Menlo Park property leased to Facebook. Read more here.

During her career at NorthMarq she has been involved with closing over $2.3 billion in debt and equity transactions covering the full spectrum of property and transaction types.

Briana is an active member of NAIOP, where she currently serves as co-chair of the Membership Committee. She is also the current President of the Berkeley Real Estate Alumni Association. Additional organizations that keep her connected and in front of market trends are Urban Land Institute San Francisco, the Bay Area Mortgage Association, the Mortgage Bankers Association, and CREW.

One De Haro – Financing Transaction of the Year: Dennis Williams, senior vice president/managing director and Briana Harney secured $93 million in construction-permanent financing for this 92,000-sq.-ft. office + 41,200 PDF spec development.

The transaction, involving one lender, featured a senior/mezzanine loan that financed 90 percent of actual costs with the loan converting to permanent full-term IO upon project completion.

NorthMarq secured financing for the developer, SKS Partners, through its correspondent relationship with Northwestern Mutual Life Company.

At the time of the closing, SKS Director of Finance Victor Lau noted, “Dennis and Briana successfully sourced multiple financing alternatives and advised us every step of the way. We couldn’t be more pleased with the execution that paired us with a best-in-class lender that appreciates the design hallmarks of a SKS project and financing option that closely aligned with our business strategy.”

The transactions NorthMarq competed against for “Financing Transaction of the Year” included:
• 225 Bush (JLL)
• Gateway Millbrae Station (JLL)
• 101 California, San Francisco (Goldman Sachs/J.P. Morgan Chase)

Read more about the transaction here.