SAN FRANCISCO-Cohen Financial has secured a $10 million refinance loan for a mid-rise office building in the South of Market area in San Francisco. The building is located at 665 Third Street and is fully leased to a few dozen tenants.
Paul Schroeder, a managing director in Cohen Financial's San Francisco office, originated the loan. Schroeder secured the fixed rate, seven-year term loan from a union pension fund.
“The SoMa area of San Francisco has seen tremendous growth as high-tech companies have relocated to San Francisco from Silicon Valley,” Schroeder said. “This atypical trend started during the recent economic recovery because many high-tech workers want to live in an urban setting with closer proximity to loft-style apartments, entertainment hot spots and the variety of dining options that San Francisco offers.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
