HFF Announces $109.8M Sale and $103.61M Financing of 1390 Market Street in San Francisco to Swift
May 21 2018 - 3:17PM
Business Wire
HFF announces the $109.8 million sale and the $103.61 million
financing of a subdivided condominium interest in 1390 Market
Street, a transit-oriented, 219,711-square-foot office building
with ground-floor retail in San Francisco, California.
The HFF team represented the seller, Broadreach Capital
Partners, and procured the buyer, Swift Real Estate Partners.
Additionally, the HFF team arranged a floating-rate acquisition
loan through Brookfield on behalf of the buyer.
1390 Market Street is located in San Francisco’s Mid-Market,
which has become one of the most desirable neighborhoods for
growing technology companies. This location along Market Street is
just two blocks from the Civic Center BART/Muni station providing
all major forms of public transit to the San Francisco
International Airport, Oakland and the greater Bay Area. Originally
built in 1967, 1390 Market Street was renovated in 2007 and
features 218,791 square feet of office space and 920 square feet of
ground-floor retail. The LEED Gold certified building is leased to
tenants, including Twitter, Jones Clifford and several branch
offices of the City of San Francisco. The property also includes
apartments on the top floors of the building, which were not a part
of the sale or financing.
“We are pleased with the acquisition of 1390 Market Street, and
are excited to expand our presence in San Francisco,” said Tommy
Christman, the asset manager of the acquisition. “We believe 1390
Market has the potential to be Mid-Market’s premiere multi-tenant
destination appealing to a wide array of tenants, including those
in government and tech.”
The HFF investment advisory team representing the seller
included senior managing directors Michael Leggett and Gerry Rohm,
senior directors David Dokko and Ben Bullock, director Thomas Foley
and analyst Austin White.
The HFF debt placement team representing the borrower that
arranged the Brookfield financing consisted of senior director
Jordan Angel and analyst Bercut Smith.
Holliday GP Corp. ("HFF") is a real estate broker licensed with
the California Department of Real Estate, License Number
01385740.
About Broadreach Capital
Partners
Established in 2002, Broadreach Capital Partners is a real
estate investment firm that focuses on western U.S. commercial and
hotel and resort properties. The firm invests in a wide variety of
real estate assets across a number of geographies. Their primary
objective is the creation of value through the application of
experience gained over decades of involvement in all phases of the
real estate business, including the acquisition, development,
redevelopment, management, financing, entitlement and disposition
of real property. The firm combines this expertise with significant
financial resources to produce what, over time, have been
industry-leading results. Learn more at broadreachcp.com.
About Swift Real Estate
Partners
Headquartered in San Francisco, Swift Real Estate Partners
(“Swift”) is a vertically integrated real estate investment firm,
which seeks to generate attractive risk-adjusted returns for its
investors. Swift acquires and repositions office and industrial
assets in select West Coast markets, identifying unique
opportunities and executing well-defined business plans while
providing real-time, day-to-day oversight for each investment.
Since inception, Swift has owned and operated real estate valued in
excess of $3 billion across more than eight million square feet.
Swift’s professionals bring experience encompassing all aspects of
real estate investment and management, including acquisition,
financing, leasing, disposition, construction management, property
management and creative and marketing services. Swift was founded
in 2010 by Christopher Peatross.
About HFF
HFF and its affiliates operate out of 26 offices and are a
leading provider of commercial real estate and capital markets
services to the global commercial real estate industry. HFF,
together with its affiliates, offers clients a fully integrated
capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: https://www.businesswire.com/news/home/20180521005937/en/
HFFDavid Dokko, (415) 276-6300CA Lic.
#01960806Senior Directorddokko@hfflp.comorJordan Angel,
(415) 276-6300CA Lic. #01419993Senior
Directorjangel@hfflp.comorKristen Murphy, (617) 338-0990HFF
Director, Public Relationskrmurphy@hfflp.com
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