Blackstone and Paramount Group, which own approximately equal stakes in San Francisco's One Market Plaza, have secured an extension on a $975M loan backed by the 1.6M office complex.
The partners have agreed to pay down an unspecified portion of the debt in exchange for the extension on the loan, which was set to mature early next month, according to a report in the San Francisco Business Times. The length of the extension was not disclosed.
One Market Plaza encompasses three office buildings at 1 Market Street along the Embarcadero, including the 27-story Steuart Tower, the 42-story Spear Tower and a six-story retail and annex space.
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