SAN FRANCISCO–The seven-story, 208,000-square-foot, Class A office property at 501 Second Street owned by The Swig Company received $75 million in refinancing. Holliday Fenoglio Fowler (HFF) worked on behalf of The Swig Company to secure the 10-year, fixed-rate loan through John Hancock. The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Brandon Roth.
Originally built in 1925, the property has been continually upgraded by The Swig Company. It is fully leased to 17 tenants representing a variety of industries including technology, media, architecture and venture capital. The office building features large floor plates and one level of below-grade parking.
Ganong tells GlobeSt.com:
“501 Second Street enjoys many attributes that made the opportunity attractive to lenders and the timing of the transaction was fortunate for The Swig Company.”
501 Second Street is located in the SoMa submarket at Second and Bryant Streets, just three blocks from AT&T Park and in close proximity to the Central Subway project that will be completed in 2019. It is also convenient to Caltrain, Muni and BART, as well as Interstates 80 and 280, and Highway 101.
“We are delighted to lock in a great loan at favorable interest rate for one of the company's signature long-term assets. The team at HFF and John Hancock made the process seamless and very user friendly,” says Connor Kidd, vice president of investments for The Swig Company.
The Swig Company is a privately owned, San Francisco-based real estate company with a 75-plus year history of investment, development, partnership and management of commercial real estate properties in major US markets.
HFF and HFFS (HFF Securities L.P.) are owned by HFF Inc. HFF operates out of 22 US offices and is a provider of commercial real estate and capital markets services. HFF's capital markets platform includes debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. As previously reported, HFF represented the seller in two Class A Silicon Valley office buildings earlier this year.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
