Office - Debt

Arranges $120 million financing for Mission Bay Office Building in San Francisco, California

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.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.