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SAN FRANCISCO­ ­— HFF (NYSE: HF) has arranged $480 million in construction financing for the development of a Class A office and luxury condominium in downtown San Francisco. HFF secured the loan for Jay Paul Co., a West Coast-based real estate development firm, through Starwood Property Trust.

The LEED Platinum-certified, fully entitled property is located at 181 Fremont St. in the South Financial District. HFF brokered the sale of the asset in 2013 for an undisclosed amount. Jay Paul began construction on the tower shortly thereafter.

The site is situated on approximately one-third of an acre and is connected to the new business district known as Transit Center District. Upon completion, the 55-story, mixed-use property will rise 802 feet and will be the tallest office and residential tower on the West Coast. The project features a state-of-the-art exoskeleton design with efficient column-free floor plates, panoramic city and bay views, and a direct connection via sky-bridge to the Transbay Transit Center’s 5.4-acre rooftop city park.

Peter Smyslowski, Chris Gandy, Walter Chui and Brandon Roth of HFF led the debt placement team.

“It was a privilege to play a small part in the development of what will be one of the most iconic office towers in the nation,” says Smyslowski. “The Jay Paul Company has planted an enormous flag in the San Francisco skyline.”

Founded in 1975, Jay Paul Co. has developed more than 8 million square feet of institutional-quality commercial real estate throughout California. The company focuses on the creation of large-scale campuses.

HFF operates out of 23 offices nationwide and is a provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. The company’s stock price closed at $30.83 per share on Tuesday, Aug. 5, up from $22.16 per share a year ago.

­— Danielle Everson

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