SoMa Apartments Score Financing
Word to the wise: When Whole Foods anchors your joint, chances are financing will come easy. (20-somethings will too.) Pair that with a San Francisco apartment market at an overall occupancy rate of 97.1% in Q3, and get ready for some cash cows. JLL just secured $52M in senior financing from Prudential for SoMa at 788, a 158k SF mixed-use property featuring 160 Class-A apartments in the heart of SoMa. There was a high level of interest from lenders, says JLL managing director John Manning. Whole Foods is a 32k-SF ground-floor tenant. The property was scooped up in January 2013 and renamed SoMa at 788.