SAN FRANCISCO (August 6, 2014) –Jeffrey Weidell, president, Nathan Prouty, senior director and Andrew Slaton, vice president of NorthMarq Capital’s San Francisco based regional office arranged financing of $120 million for 500 Terry Francois, a 305,260 sq.ft. office building located at 500 Terry A. Francois Boulevard, San Francisco, California. The transaction was structured with a 15-year term and 30-year amortization schedule. NorthMarq Capital arranged financing for the borrower, an affiliate of The Sobrato Organization, through its correspondent relationship with Allianz Real Estate of America LLC.
Built in 2008, the six-story property is located on the waterfront in the heart of San Francisco’s Mission Bay, near the 3rd Street Light Rail and adjacent to the site of the future arena for the NBA’s Golden State Warriors. It was successfully leased and stabilized following the borrower’s acquisition in May 2011. Major tenants in the building include Cisco, Wix and Cengage.
“NorthMarq teamed up with Don Willett of Willett & Co. to line up debt for this recently stabilized Class A multi-tenant office property,” said Weidell. “There were a number of deal points that helped us negotiate attractive terms, including a best-in-class borrower, strong tenant credit, and a high-quality asset in a robust and desirable submarket.”
