San Francisco Mixed-Use Building Receives $7M Financing
- Dec 04, 2019
Continental Partners has secured $6.6 million in financing for the acquisition of a 10,384-square-foot historic mixed-use asset in San Francisco. Continental President Mitch Paskover and Associate Delaney Crawford arranged the bridge loan on behalf of the buyer, M31 Capital. The loan is priced at 30-day LIBOR + 350 with no prepayment penalty.
Situated at 620 Commercial St., the mixed-use property is in San Francisco’s Financial District, less than 3 miles from downtown. The building is located within a 10-minute walk from the Montgomery BART station on Market Street, which enables access to the wider Bay Area. Additionally, the area provides access to several restaurants and cafes, such as City View and Chapel Hill Coffee.
The five-story building encompasses ground floor retail and office space, four additional floors of office space and a storage basement. The buyer plans to renovate each floor and lease the spaces to a new mix of tenants.