HFF just arranged the money for Swig Co's seven-story, 208k SF creative office property at 501 Second St. The $75M, 10-year fixed-rate loan came from John Hancock. The building sits three blocks from AT&T Park and in close proximity to the Central Subway project that will be completed in 2019. Originally built in 1925, the property has been continually upgraded and is fully leased to 17 tenants. HFF says the institutional quality asset has stable cash flow and a diverse rent roll, which elicited a very competitive response from life insurance companies and commercial banks.
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