July 18, 2019
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Foster City, CA-based Z&L Properties, Inc. secured $76.8 million in financing for the development of 1554 Market St., a 109-unit condominium project in downtown San Francisco. JLL worked on behalf of the borrower to place the five-year, floating-rate construction loan with Barings, on behalf of one of its managed accounts.
The fully-entitled project is positioned near Market Street and Van Ness Avenue, directly across from the Van Ness Muni Metro Station in San Francisco’s Hub District. Due for completion in 2021, the property will encompass two 12-story buildings connected by a concrete corridor that will house the condominium units situated above a ground-floor lobby and 5,010 square feet of retail space as well as a 28-space subterranean parking garage.
The JLL Capital Markets team representing the borrower included Brandon Roth and Charles Halladay.
For comments, questions or concerns, please contact Dennis Kaiser