$66.5M Construction Loan Granted For San Francisco Apartment Building
Walker & Dunlop secured $66.5M in construction financing for a luxury apartment building in San Francisco. Walker & Dunlop capital markets group managing directors Kevin O’Grady, Daniel Sheehan and Eric McGlynn arranged the financing. The loan, provided by Square Mile Capital, closed April 28.
Rescore Property Corp., a private real estate investment trust out of Boca Raton, Florida, along with local developer Presidio Development Partners will develop the property. The nine-story, 160-unit project dubbed The Rise Market Street will be at 1699 Market St. The building will feature 8-foot, 8-inch ceilings, wood flooring, stainless steel appliances, quartz countertops, balconies and walk-in closets.
Amenities will include a roof deck with barbecue areas, a community garden, a clubroom and dog run. There will also be a fitness center and a chef’s kitchen with a dining area.
