The owner of a high-profile luxury apartment complex in San Francisco has avoided a foreclosure sale of the 754-unit property by renegotiating loan terms with the lender.
Crescent Heights will remain the owner of NEMA San Francisco, located across the street from X Corp.'s San Francisco headquarters, according to a report in the San Francisco Chronicle.
NEMA (the acronym stands for New Market), which opened its futuristic-looking luxury complex in 2013, has been an icon in the neighborhood. The complex pioneered a luxury residence with hospitality-style amenities and became a magnet for tech companies including Uber and Twitter, the latter now known as X.
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