{"id":1004223927,"date":"2018-04-26T08:33:40","date_gmt":"2018-04-26T16:33:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004223927"},"modified":"2022-12-08T10:55:03","modified_gmt":"2022-12-08T18:55:03","slug":"brick-and-timber-acquires-san-francisco-office-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brick-and-timber-acquires-san-francisco-office-property\/","title":{"rendered":"Brick and Timber Acquires San Francisco Office Property"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004223981\" style=\"width: 350px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/55-Green.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004223981\" data-attachment-id=\"1004223981\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/brick-and-timber-acquires-san-francisco-office-property\/55-green\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/55-Green.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"55 Green\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;55 Green, San Francisco&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/55-Green.jpg?w=800\" class=\"wp-image-1004223981 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/55-Green.jpg\" alt=\"\" width=\"340\" height=\"264\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/55-Green.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/55-Green.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/55-Green.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 340px) 100vw, 340px\" \/><\/a><p id=\"caption-attachment-1004223981\" class=\"wp-caption-text\">55 Green, San Francisco<\/p><\/div>\n<p>Brick and Timber Collective has secured $26.2 million financing for its acquisition and repositioning of 55 Green, a <a href=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-office-asset-trades-for-115m\/\">Class A office building in San Francisco<\/a>&#8216;s North Waterfront submarket. NKF Capital Markets arranged the financing through PCCP on behalf of the buyer, as well as represented the seller, Triton International, in the transaction. Prior to this sale, Triton owned and operated the asset for more than 20 years.<\/p>\n<p>Located at 55 Green St., the property comprises 54,414 square feet across five stories. Constructed in 1984, the building features views of San Francisco Bay, 17 secured parking spots in the basement garage and is within close proximity to several transportation methods including the MUNI light rail, BART, San Francisco Bay Ferry, MUNI bus lines and Golden Gate Transit. The asset is currently vacant.<\/p>\n<h2>Brokerage team<\/h2>\n<p>NKF Capital Markets&#8217; Executive Managing Directors Michael Taquino,\u00a0Kyle Kovac\u00a0and\u00a0Daniel Cressman\u00a0represented the seller in the transaction. Senior Managing Director\u00a0Chris Moritz\u00a0and Vice Chairman\u00a0Ramsey Daya\u00a0arranged\u00a0the financing.<\/p>\n<p><em>&#8220;Given the quality of the asset and extensive experience of our client in the submarket, the debt markets showed a strong interest in this opportunity. PCCP demonstrated a real understanding of the submarket and all of the drivers of tenant demand, and our NKF Capital Markets team is pleased to have successfully closed on this transaction with them on behalf of Brick and Timber,&#8221;<\/em> said Moritz, in a prepared statement. <em>&#8220;55 Green presents a rare opportunity to reposition a high-quality, Bay-facing asset in one of the fastest growing submarkets in San Francisco.&#8221;<\/em><\/p>\n<p><em>Image courtesy of NKF Capital Markets\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NKF Capital Markets arranged financing through PCCP on behalf of the buyer, and represented the seller, Triton International. <\/p>\n","protected":false},"author":746,"featured_media":1004223981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21742,21747,1609,15],"tags":[36007,33053],"class_list":["post-1004223927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-latest","category-office","category-san-francisco","category-west","tag-newmark-knight-frank","tag-pccp-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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