HFF Secures $480M Construction Loan for 181 Fremont in San Francisco
HFF arranged $480 million in construction financing for 181 Fremont St., a 55-story, 684,000-square-foot Class A office and luxury condo tower in San Francisco’s South Financial District.
By Scott Baltic, Contributing Editor
HFF has arranged $480 million in construction financing for 181 Fremont Street, a 55-story, 684,000-square-foot Class A office and luxury condo tower in San Francisco’s South Financial District, the company announced Tuesday. The loan was secured for the developer, the Jay Paul Co., through Starwood Property Trust.
The HFF debt placement team was led by managing director Peter Smyslowski, director Chris Gandy and associates Walter Chui and Brandon Roth.
No further information was available about the financing.
Jay Paul Co. took over the fully entitled, LEED Platinum project from SKS Investments in April 2013 and broke ground last November.
At 802 feet, the completed building will be the tallest office-and-residential tower on the West Coast and the second-tallest tower in the South of Market/Transbay neighborhood.
The 0.35-acre site is immediately adjacent to the new business district known as the Transit Center District. The project features an exoskeleton design with column-free floor plates and a sky-bridge connection to the 5.4-acre rooftop city park atop the Transbay Transit Center.
At latest report, 181 Fremont will include 411,000 square feet of office space on 33 floors and 68 residential condo units on floors 39–53. Floor 36 reportedly will feature 7,000 square feet of residential amenities and a two-story open-air terrace (for residents) wrapping around the building.
The tower will also include 2,600 square feet of retail space on the first and fifth floors.
The architect is Heller Manus Architects, of San Francisco, and the general contractor is Level 10 Construction.
The building is scheduled to open in early 2016, according to earlier reports.
Cornish & Carey Commercial Newmark Knight Frank will handle office leasing. The Mark Co., of San Francisco, will handle marketing and sales for the residences, which will be marketed under the name Park 181.
The Transbay Transit Center, currently under construction between Mission and Howard streets and from Beale almost to Second Street, will connect various rail and bus lines, paratransit services, and a proposed California high-speed rail project. It’s scheduled to open in late 2017.
