Gantry has 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 property is anchored by Artis Ventures, a venture capital firm based in the city.
Principal Tom Dao, senior associate Erinn Cooke and closing director Nan Carlevarini 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.
Dao commented: “Office properties are among those most challenged assets in today’s financing markets due to major shifts in workstyle; however this asset was able to tell a different story.” He added that “strong sponsorship, professional management seismic upgrades historic performance current occupancy and location relevancy allowed us to optimize financing for 499 Jackson with one of our top life company lending sources – positioning it for stable ownership over many years.”
