One of the assets in the 12-property portfolio was 245 Leavenworth with 48 units.
SAN FRANCISCO—A 12-property 455-unit multifamily portfolio with 13 ground-floor retail suites just received $113.5 million in financing. The borrower was Mosser Capital.
The financing was a six-year (including extension options) floating-rate loan through an affiliate of Walton Street Capital LLC. The loan included interest-only payments through the first five years of the term.
The properties in the portfolio are 775 Geary (36 units), 1029 Geary (58 units), 17 Decatur (8 units), 840 Van Ness (50 units), 2360 Van Ness (21 units), 245 Leavenworth (48 units), 305 Hyde (38 units), 347 Eddy (40 units), 371 Turk (25 units), 575 O'Farrell (47 units), 618 Bush (38 units) and 891 Post (46 units). All properties are near mass transit, employment and retail amenities in the Civic Center, South of Market, Chinatown and Russian Hill submarkets.
The HFF debt placement team representing the borrower included senior managing director Peter Smyslowski and associate Bercut Smith.
“The sound economic fundamentals of this multi-housing portfolio and the San Francisco market attracted a diverse array of domestic and foreign capital providers,” Smyslowski said. “Mosser could not have been more impressed by Walton Street's expert loan execution.”
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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.
