Regency Capital Partners

178 Townsend


178 Townsend

Summary

Regency Capital Partners (“RCP”) arranged construction financing for this 94-unit apartment community located in the heart of San Francisco’s South Beach neighborhood, the first large housing project built in San Francisco since mid-2008. RCP assisted the developer in navigating through a stalled credit market to secure an 85% of total cost non-recourse, construction to permanent loan to complete this cutting edge development which will be San Francisco’s first Gold LEED certified residential building. Despite the large amount of leverage, a fixed interest rate was locked for 40 years below 5% with a flexible prepayment penalty over the loan term, enabling the Borrower to begin construction in September 2010.


Transaction Details

LOAN AMOUNT $32,500,000
FINANCING TYPE Construction
LENDER TYPE Agency Lender
PROPERTY TYPE Multifamily
PROPERTY ADDRESS
Map
178 Townsend Street
San Francisco, CA
PROPERTY DESCRIPTION The Project comprises the construction of 94 luxury apartments.