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California  + Bay Area  + Apartments  | 
San Francisco Supportive Housing Project Receives $35M Loan from Merchants Capital

San Francisco Supportive Housing Project Receives $35M Loan

The Chicago office of Merchants Capital has secured a $35 million construction loan on behalf of HomeRise for the renovation of San Cristina, a historic affordable housing community in San Francisco. Originally constructed in 1913 as an office building, San Cristina was acquired by HomeRise in 1991 and converted into one of the The City’s earliest supportive housing communities.

“We are excited about the opportunity to restore San Cristina housing to its historical glory. Our funding partnership with Merchants Capital is a vital part of our ability to continue to provide supported housing opportunities,” said HomeRise CEO Rick Aubry.

Upon completion, San Cristina will continue to provide affordable housing and enhanced support services offered by HomeRise. The construction loan was provided by Merchants Bank of Indiana with participation by the AFL-CIO Housing Investment Trust. “We commend the ongoing efforts by HomeRise to provide housing and supportive services for San Francisco residents most in need,” commented Merchants Capital EVP Lee Oiler.


Inside The Story

Merchants CapitalHomeRiseAFL-CIO Housing Investment TrustRick Aubry

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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