NorthMarq Capital has completed a $70M permanent loan for 38 Dolores, a mixed-use property in San Francisco.
The property, in Upper Market, has 81 luxury rental condos above a 30k SF Whole Foods Market. The transaction has a seven-year interest-only term. NorthMarq managing director Dennis Williams negotiated the loan for the borrower through Capital One.
Dennis says lender interest was high for the trophy asset, with Capital One's aggressive pricing and highly flexible terms raising it above the competition.
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