April 11, 2016
Capital One Bank’s Commercial Real Estate Group provided a $60.6-million, seven-year, interest-only loan to refinance Rialto on New Montgomery, a 137,000-square-foot office tower in San Francisco’s South Financial District. Atlanta-based Jamestown Properties, through its Premier Property Fund, and Jamestown 29 L.P & Co., purchased the property in December in an all-cash transaction.
Built in 1901, Rialto on New Montgomery includes ground floor retail space at the corner of Mission and New Montgomery St. The 97-percent leased, nine-story property recently completed a comprehensive $18-million renovation and repositioning program that’s made it more attractive to creative occupiers.
Notable features include a newly restored façade, fully renovated lobby, exposed brick walls, 13-foot concrete ceilings, a roof deck, and a community lounge.