HFF arranges $16 million financing for San Francisco retail asset near Union Square
SAN FRANCISCO, CA – January 18, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it arranged $16 million to finance 39 Stockton Street, a 12,281-square-foot, fully-leased high-street retail property near Union Square in San Francisco, California.
HFF worked on behalf of the borrower, Vanbarton Group, to place the floating-rate loan with Mesa West Capital.
Originally built in 1909, 39 Stockton Street is a two-story building fully leased to the Disney Store. The property is located one and a half blocks south of Union Square, the premier shopping district in San Francisco and one of the most renowned and concentrated shopping areas in the world, and a half block north of Market Street. The city of San Francisco’s Central Subway Project will connect Bayshore Mission Bay areas to Chinatown, and a new MUNI stop for the project is being built at the corner of Stockton Street and Market Street. The $1.6 billion project will transform Stockton Street and is slated for completion in 2019.
HFF’s debt placement team was led by director John Churchward.
“This location and Union Square is already a world-class destination and among the strongest retail locations in the United States,” Churchward said. “It is going to be very exciting to see this stretch of Stockton Street transform over the next few years, as it may become more of a pedestrian-only street connecting the people and amenities on Market Street to Union Square. Mesa West provided a creative and flexible financing solution that allows Vanbarton Group to execute a very thoughtful business plan to increase the value of this asset.”
About Vanbarton Group
Vanbarton Group is a privately owned, vertically integrated real estate investment and advisory firm founded in 1992 with corporate offices in New York City and San Francisco. With its proven expertise successfully investing across the capital stack in varying ways throughout real estate cycles, Vanbarton's investments include U.S. domestic core plus, value-add and opportunistic equity investments, preferred equity, junior participations, bridge loans, secondary market debt acquisitions and securitized credit. To find out more about Vanbarton, please call 212-293-8800, or visit the firm’s website at vanbartongroup.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.