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NorthMarq Secures $93M Construction Loan for San Francisco’s First CLT Building
NorthMarq secured $93 million in construction-to-permanent financing for One De Haro, a 133,427-square-foot mixed-use building in San Francisco. The sponsor was San Francisco-based SKS Partners.
The financing was structured with a $56 million senior loan and $37 million of mezzanine funds. Both loans feature a full-term interest-only fixed rate and are co-terminus.
One De Haro is located at the intersection of the SOMA, Potrero Hill, and Showplace Square districts. The project is a four-story, 60-foot tall building, encompassing two-thirds office and one-third light industrial uses. The upper floors will be built from Cross-Laminated Timber (CLT), and it will be the first CLT building in San Francisco, as well as the first multi-story CLT building in California.
NorthMarq’s Dennis Williams and Briana Harney arranged the loan through a life insurance company.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development

