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10/05/18
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Chelsea Pacific Group has obtained $30 mil in financing on The Chancery, a 62.4k sf, transit-oriented building on Market Street in San Francisco. The loan was arranged by HFF’s Jordan Angel and funded through Chase Commercial Term Lending.
Originally built in 1923, The Chancery is a seven-story building featuring ground-floor retail with office space on the floors above. The property was extensively renovated in 2015 and is fully leased to a diverse roster of tenants, including Starbucks and Per Diem Restaurant on the ground floor.
Centrally located at 564 Market St, in the middle of San Francisco’s Financial District, The Chancery is directly across the street from the Montgomery Street BART station and within steps of the Second Street Corridor and recently completed Transbay Transit Center terminal.
“The property’s extraordinary access to BART and MUNI transportation options as well as the incredible job the owner has done in renovating a historic building makes this one of the best jewel box assets in downtown San Francisco,” Angel said.
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