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5/20/20
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DivcoWest has obtained a $36 mil refi loan on 180 Townsend, a four-story, 40.9k sf office building in San Francisco. The asset is currently undergoing renovations to accentuate existing features such as the brick facades, windows and ceiling clear heights as ownership makes upgrades to match the property’s superior location and create a Class A creative office environment.
Located within San Francisco’s South of Market (“SOMA”) neighborhood, the property is in proximity to an abundance of amenities including restaurants, housing and major sports venues, such as AT&T Park and the new Chase Center. It presents direct access to municipal public transportation, commuter trains to Silicon Valley and several freeway options. The building is 100% leased to venture capital firm Andreessen Horowitz.
Ramsey Daya and Chris Moritz of the NKF’s Debt & Structured Finance team arranged the financing for DivcoWest, a privately owned, vertically-integrated operating company. The loan was funded through JP Morgan Asset Management.
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