Properties: Brannan Street Office Building

BRANNAN STREET OFFICE BUILDING
SOMA DISTRICT, SAN FRANCISCO, CALIFORNIA

Total Capitalization $48,000,000
  
Debt Funding $20,000,000
 
Purpose – Long-term, fixed-rate financing
– Refinance existing senior mortgage
– Common area renovation
– Leasing Costs
– Tenant Improvements
   
Ownership Single-asset California LP solely owned by private family trust. Affiliate of Borrower is occupant of the Subject Property (1.05% of floor area).
  
Security First Deed of Trust secured by the Subject Property.
    
Property Address 651 Brannan St., San Francisco, CA 94107-1532
 
Property Description 92% occupied, multi-tenant, 4-story, elevator-served, steel-reinforced concrete office building comprising 126,937 sq. ft. of rentable area above a subterranean parking garage. The building was originally constructed in 1912 by Norman Coulter and substantially renovated in 1982-1987, 1998, 2000 and 2011 (pending). Major tenants includes San Francisco Transportation Agency, XO Communications and fast-growing social media tenants backed by private equity firm for Facebook and Groupon.

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