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Related, Deutsche Close Record $317M Bond Financing for MXU Development
Related California and Deutsche Bank closed on California’s largest-ever construction financing with tax-exempt bonds, totaling $316.8 million. The tax-exempt bonds will be purchased by Deutsche Bank, as will the balance of the financing, $141.7 million of variable rate demand notes. The instruments will be used to finance construction of 1500 Mission Street in San Francisco.
The development includes two buildings, a 550-unit mixed-income, mixed-use residences with a 31,000 square foot Equinox Fitness Facility; and a 460,000-square foot office building, which will be owned by the City and County of San Francisco.
Related California’s Matthew Witte says, “1500 Mission’s compelling transit-oriented location, unparalleled amenities, and celebrated design are already creating excitement among nearby residents eager to see benefits of a new neighborhood, and city staff who will have a new home for generations.”
The project is expected to get underway in early 2018, with the grand opening expected in May 2020.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development




