Bomel Cos. Refinances Rialto Building

SAN FRANCISCO-The historic Rialto Building in Downtown San Francisco will be renovated by its owner, Los Angeles-based urban infill developer Bomel Cos., according to Holiday Fenoglio Fowler, which says it obtained a $43-million bridge loan for the company from GE Real Estate.

Originally completed in 1902 at 116 New Montgomery St. in the South Financial District, the Rialto Building has eight stories of office space above street-level and mezzanine retail space. The property is 88% occupied by tenants including Trust for Public Land, Walgreens and Chipotle Grill.

Wilemon and director Zane Sweet (HFF San Francisco) worked on behalf of Steven Firtel, corporate counsel and director of development for Bomel. Firtel says the financing “will enable us to implement a long-term leasing and capital improvements plan on the Rialto.”