Regency Capital Partners

353 Sacramento Street


353 Sacramento Street

Summary

Regency Capital Partners (“RCP”) arranged the refinancing for this 260,000 SF, Class-A multi-tenant office building located in San Francisco’s North Financial District. The property was constructed in 1986 and is located across the street from the Embarcadero Center, positioning the building as one of San Francisco’s premier office towers. Nonetheless, RCP faced several challenges in the financing including the in-place rents being over 20% above market along with several of the building’s largest leases rolling within the next 5 years. Despite these challenges, RCP was able to create a competitive bidding process with several top tier life companies and banks and ultimately secured the Borrower a non-recourse 65% LTV loan with two years of interest-only and a fixed rate of under 4%. Furthermore, RCP was able to convince the lenders that the combination of the building’s quality and the strength of the Borrower were sufficient protection for the rollover thereby eliminating the need for any reserves.


Transaction Details

LOAN AMOUNT $50,500,000
FINANCING TYPE Permanent
LENDER TYPE Life Company
PROPERTY TYPE Office
PROPERTY ADDRESS
Map
353 Sacramento Street
San Francisco, CA
PROPERTY DESCRIPTION 353 Sacramento Street, a 23-story, Class A office tower with ground floor retail space, is located in the heart of San Francisco's thriving Financial District. Located directly across the street from the prestigious Embarcadero Center complex, the Property is one of San Francisco CBD's premier addresses. Construction was completed in 1982.