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11/11/15
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Newmark Realty Capital has arranged $5.55 mil in permanent financing on a stabilized, mixed-use property in San Francisco’s historic North Beach neighborhood.
The loan, arranged by Newmark’s Demetri Koston, has a highly competitive fixed-rate term and a 30-year amortization. It was placed with one of Newmark’s banking relationships. There are no lender origination fees and an annual partial prepayment permitted at par.
The property is typical for the area with apartment units over retail suites on the ground floor, plus a parking lot. It is ideally located in the heart of the commercial district of Telegraph Hill, which includes Coit Tower, Washington Square, and the dense retail of Columbus Avenue. This region is one of the most highly sought-after trade areas of North America.
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