BridgeInvest Closes a $87.9 MM Acquisition Loan in San Francisco
1st Priority Mortgage Loan
Loan Amount
$87,900,000
Property Type
R&D
Location
San Francisco, CA
BridgeInvest is excited to announce the closing of a $87.9 MM loan to finance the acquisition and lease-up of a six-story, 152k square foot R&D property located in the Mission Bay submarket of San Francisco, CA.
The Sponsor will complete the lease-up of the Property before pursuing a refinance or eventual sale.
Transaction Highlights:
- The initial loan last dollar is a 75% discount to the previous owner’s development basis
- The Sponsors are Lincoln Property Companies and Sabal Investment Holdings, both of which are top tier institutional Sponsors with ample experience in the market and previous borrower’s of BridgeInvest
- Significant supply/demand imbalance in the market for Class A R&D space as demand far outpaces supply for class “A” space alongside the continued “flight to quality” and resurging San Francisco commercial real estate market driven by the AI boom
