Market Center is located near the Salesforce Transit Center and Montgomery BART station.
SAN FRANCISCO—ING Capital LLC has closed a $402 million financing for Paramount Group Inc. to fund its acquisition of Market Center, a two-building 753,000-square-foot class-A office complex located at 555 and 575 Market in the Financial District. ING acted as the administrative agent and sole lead arranger and plans to syndicate the loan in early 2020.
The initial term of the financing will be five years with two one-year extension options. The loan was swapped to a fixed rate for the initial term.
Market Center is located along the Market Street Corridor near the Salesforce Transit Center and Montgomery BART station. The property's tenant roster comprises a diverse mix of tenants from the technology, business services, real estate and finance sectors.
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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.
