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December 14, 2019
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BAY AREA NEWS
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Downtown San Francisco Res Project Lands $77 Mil in Construction Money

7/17/19

A planned, 109-unit condominium project located in downtown San Francisco is one step closer to getting underway as the developer, Z&L Properties Inc, has secured $76.8 mil in construction money. The development, 1554 Market Street, is a fully-entitled project positioned near the intersection of Market St and Van Ness Ave, directly across from the Van Ness Muni Metro Station in San Francisco’s Hub District.

The transit-oriented development’s prime location has earned it a Walk Score® of 99, a Transit Score of 100 and a Bike Score of 99, and positions it within eight blocks of more than 400 restaurants and bars. Due for completion in 2021, the property will encompass two 12-story buildings connected by a concrete corridor that will house 109 condominium units situated above a ground-floor lobby and 5k sf of retail space as well as a 28-space subterranean parking garage.

Brandon Roth and Charles Halladay with JLL Capital Markets arranged the five-year, floating-rate construction loan with Barings, on behalf of one of its managed accounts.Roth notes that the San Francisco condo market continues to be strong with record pricing achieved in the second quarter of 2019.





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