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6/10/26
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A joint venture of Arthaus Partners and Belay Investment Group has purchased The Terraces, a 117-unit multifamily building including street level retail located at 1300 – 1330 Bush St in San Francisco’s Lower Nob Hill neighborhood. The acquisition was funded with a bridge loan of $24 mil.
Built in 1975, the mature, rent controlled property offers a mix of studio and one-bedroom apartments and includes 55 dedicated residential parking spaces and an additional 30 retail serving parking spaces. Plans are in place for a full property renovation and improvement program, with the loan including additional earn out funds to cover leasing commissions and tenant improvements for the nearly 17k sf of vacant street fronting retail space.
Gantry’s Jeff Wilcox, Principal, and Andrew Ferguson, Director, represented the borrower in the transaction. The variable rate loan was funded through an institutional debt fund and includes full-term interest-only payments with extension options. According to Wilcox, this was a strategic acquisition for an experienced sponsor marking their return to one of the nation’s top multifamily markets.
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