Upcoming Stories
California CRE News In Your Inbox .

California   /   February 9, 2021

Lisa Brown
By: Lisa Brown

Ventana to Provide Much-Needed Affordable Housing

An $80 million construction loan was recently secured on behalf of Presidio Bay Ventures for the development of the Ventana Residences in San Francisco. The 193-unit family-centric residential project sits on a 0.93-acre Opportunity Zone site at 99 Ocean Ave. in the Mission Terrace neighborhood.

Gantry’s Jeff Wilcox, Mark Ritchie and Charlie Kokernak represented the borrower in the transaction. The four-year loan commitment was placed with two pension fund co-lenders, TDA Investment Group and the AFL-CIO.

“This is a rare development opportunity in San Francisco, being both an Opportunity Zone and a transit-oriented development,” says Wilcox. “This strong commitment from two well-capitalized pension lenders is a vote of confidence for the long-term fundamentals of Bay Area multifamily real estate, and it is going to be a great pleasure seeing this project go vertical as it will provide much-needed affordable and market rate housing.”

The site is near the Balboa Park BART station, and a 15-minute commute from Google, Salesforce.com, McKesson, GAP, Facebook, Levi’s, Amazon, Charles Schwab, Uber, Twitter, Kaiser Permanente, Wells Fargo and Dropbox.

Inside The Story
About the Author

Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
Email the Author

New call-to-action
New call-to-action
New call-to-action
© ConnectCRE 2021 / 515 S Figueroa St., Suite 350, Los Angeles, CA 90071.
Contact Us / Policies, Privacy & DisclosuresSubmit Press Release /