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7/07/16
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Meridian Capital Group has arranged $98 mil in acquisition financing for the purchase of the Bank of the West Building office property located in San Francisco. The loan was provided on behalf of Sidra Montgomery LLC.
The 25-story property, located at 180 Montgomery St in the heart of San Francisco’s financial district, totals 302k sf, 46% of which is anchored by Bank of the West’s headquarters. The property recently underwent a $9 mil renovation and holds LEED Gold Certification.
Situated just one block from the Bay Area Rapid Transit (BART) and Light Rail stations at Market Street, commuters have easy access in and out of the financial district. A variety of upscale hotels and restaurants including the Ritz-Carlton, Loews Regency, Boudin Bakery and Kasukabe are also located nearby.
The 10-year loan, provided by JPMorgan Chase & Co, features a competitive fixed-rate below 4.00% and full-term, interest-only payments. This transaction was negotiated by Meridian’s Tal Bar-Or, Raj Khatiwala and Kyle Kite, who are all based in the firm’s New York City headquarters.
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