February 11, 2016
NorthMarq Capital’s San Francisco office has negotiated a $70-million permanent loan for 38 Dolores, a mixed-use development located in the Upper Market area. The property consists of 81 luxury rental condominiums atop a 30,000-square-foot Whole Foods Market.
The transaction was structured with a seven-year interest-only term, that NorthMarq arranged through its relationship with Capital One.
NorthMarq’s Dennis Williams says, “Lender interest was very high in this one-of-a-kind, trophy asset. Capital One prevailed over the competition by offering aggressive pricing and highly flexible terms.”