DOWNTOWN SAN FRANCISCO OFFICE BUILDING RECEIVES $14M MEZZANINE LOAN

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SAN FRANCISCO — An 11-story, 140,657-square-foot office building in Downtown San Francisco has received a $14-million mezzanine loan. The building is located at 1155 Market Street. The loan was structured as subordinate financing because of a pre-existing CMBS loan that was in the first lien position when Laurus Corporation acquired the property in 2011. The new loan will be used for leasing costs, tenant improvements and property upgrades. The building was previously occupied by the City of San Francisco Public Utilities Commission. It is now 82 percent leased to the City and County of San Francisco. The loan was funded by Buchanan Street Partners.

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