HFF arranges $75 million refinancing for The Swig Company’s 501 Second Street in San Francisco
SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $75 million to refinance 501 Second Street, a seven-story, 208,000-square-foot, Class A creative office property owned by The Swig Company in San Francisco’s SOMA submarket.
HFF worked on behalf of The Swig Company to secure the 10-year, fixed-rate loan through John Hancock.
501 Second Street is located at 2nd and Bryant Streets, just three blocks from AT&T Park and in close proximity to the Central Subway project that will be completed in 2019. It is also convenient to Caltrain, Muni, and BART, as well as Interstates 80 and 280, and Highway 101. Originally built in 1925, the property has been continually upgraded by The Swig Company and is fully-leased to 17 tenants representing a variety of industries including technology, media, architecture, and venture capital. 501 Second Street features large efficient floor plates and one-level of below-grade parking.
The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Brandon Roth.
“We are delighted to lock-in a great loan at favorable interest rate for one of the company’s signature long-term assets. The team at HFF and John Hancock made the process seamless and very user-friendly,” reported Connor Kidd, V.P. of investments for The Swig Company.
“Strong sponsorship combined with an institutional quality asset that enjoys stable cash flow and a diverse rent roll, resulted in a very competitive response from life insurance companies and commercial banks,” said Ganong.
About The Swig Company
The Swig Company, LLC is a privately-owned, San Francisco-based real estate operator with a 75+ year history of investment, development, partnership and management of commercial real estate properties in major US markets. Founded by Benjamin Swig, The Swig Company is guided by a long-term investment perspective that has proven adept at stewarding investors safely through multiple market cycles. The company’s vertically-integrated operational platform, which includes investment, asset and property management expertise, uses flexibility, generational thinking and a sensitivity to sustainable practices to stay at the forefront of emerging trends in the commercial real estate industry. For more information, visit: www.swigco.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 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.