Gantry Arranges $8M Financing on Low-Rise San Francisco Offices

Gantry has secured $8.2 million of permanent financing for a brick-and-timber office building located at 499 Jackson St. in San Francisco’s Jackson Square Historic District. The 18,000-square-foot, five-story building is anchored by Artis Ventures, a San Francisco-based venture capital firm.

Principal Tom Dao, senior associate Erinn Cooke and closing director Nan Carlevarini represented the borrower, a private investor. The 30-year amortizing, fixed-rate loan was provided by one of Gantry’s correspondent life company lenders with an attractive rate and potential for future additional funding.

Dao said, “Office properties, especially for the major MSA/CBDs and larger footprint high rises, are perhaps the most challenged assets in today’s financing markets due to major shifts in workstyle. This asset was able to tell a different story.

“Strong sponsorship, professional management, seismic upgrades, historic performance, current occupancy and location relevancy allowed us to optimize financing for 499 Jackson with one of our top life company lending sources, positioning the asset for stable ownership in the decades to come.”