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4/27/18
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Brick and Timber Collective has purchased a 54.4k sf office building in San Francisco’s North Waterfront submarket. PCCP LLC provided $26.2 mil in financing for the acquisition and repositioning of the five-story, Class A building, located at 55 Green St, just one block from the Embarcadero.
Built in 1984, the property is situated at the corner of Front and Green Streets in the heart of the North Waterfront District neighborhood. The building boasts unobstructed views of the San Francisco Bay and includes 17 secured parking spots located in its basement garage. The property has been delivered vacant, affording the buyer an opportunity to reposition the asset as the submarket’s most coveted office building.
55 Green is within walking distance to many amenities including some of San Francisco’s most critically acclaimed restaurants and shops in North Beach and Jackson Square. The property is easily accessible and well-served by multiple modes of transportation including MUNI light rail, MUNI bus lines, BART, Golden Gate Transit, and the San Francisco Bay Ferry.
NKF Capital Markets’ San Francisco investment team of Michael Taquino, Kyle Kovac, and Daniel Cressman represented the seller, Triton International, which has owned and occupied the asset for over 20 years. Chris Moritz and Vice Chairman Ramsey Daya with NKF Capital Markets’ debt and structured finance team arranged the financing.
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