SAN FRANCISCO—Two owners of multifamily properties in San Francisco have secured refinancing loans totaling $23.5 million. The collection of properties includes one 87-unit apartment building and a six-building portfolio. All of the properties are fully leased.
“We were able to procure very favorable loan terms for these transactions which met our clients' needs,” says Ken Fox, managing director at Cohen Financial that secured the loans on behalf of the two borrowers. Fox was not available for further comment before the publication of this story.
Located at 1369 Hyde Street in San Francisco, Keystone Apartments, the larger, 87-unit building secured a $16 million refinancing loan. The loan was funded through Sun Life Financial, and included a long term and fixed rate. The six-building portfolio, which has a total of 23-units in the Mission District, secured a $7.5 million refinancing loan through Avidbank.
Several multifamily owners are taking advantage of the historically low interest rates and influx of capital in the market by choosing now to refinance. Recently, Mesa West Capital funded two loans totaling $51.4 million for the acquisition and renovation of multifamily properties in the San Francisco Bay area cities of Larkspur and Palo Alto.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Kelsi Maree Borland
