ING Secures $402M for Paramount’s Acquisition of San Francisco Office Towers

ING Capital has secured $402 million in financing for Paramount Group’s acquisition of Market Center, a two-building, 753,000-square-foot, Class A office complex located at 555 and 575 Market St. in San Francisco’s Financial District. Initial term is for five years, with two one-year extension options. The loan offers a fixed rate for the initial term and ING plans to syndicate the loan in early 2020.

Market Center is prominently located along the Market Street Corridor and proximate to the Salesforce Transit Center and Montgomery BART stations. The property’s tenant roster comprises a diverse mix of tenants from the technology, business-services, real estate and finance sectors.

According to ING’s Head of West Coast origininations Jerry Lynch, “We consider Paramount to be one of the most experienced owners and operators of Class A office properties in San Francisco and look forward to growing this relationship further.”