Gantry has successfully arranged $8.2 million of permanent financing for a brick-and-timber office building located at 499 Jackson St. in San Francisco’s Jackson Square Historic District. The 18,000-square foot, five story building is anchored by Artis Ventures, a San Francisco based venture capital firm.
Tom Dao (Principal), Erinn Cooke (Senior Associate) and Nan Carlevarini (Closing Director) represented the borrower – a private investor – in securing the 30 year amortizing fixed rate loan from one of Gantry’s correspondent life company lenders with an attractive rate and potential for future additional funding opportunities.
Dao commented on how this asset was able to secure financing despite today’s challenging market conditions: “Strong sponsorship, professional management, seismic upgrades, historic performance as well as current occupancy and location relevancy allowed us to optimize financing for 499 Jackson with one of our top life company lending sources; positioning the asset for stable ownership over many years.”
