{"id":1004231560,"date":"2018-05-23T02:10:56","date_gmt":"2018-05-23T10:10:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004231560"},"modified":"2019-08-21T04:15:37","modified_gmt":"2019-08-21T12:15:37","slug":"swift-real-estate-grabs-110m-sf-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-grabs-110m-sf-office-tower\/","title":{"rendered":"Swift Real Estate Grabs $110M San Francisco Tower"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<div id=\"attachment_1004231568\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/1390-Market-St.-San-Francisco.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004231568\" data-attachment-id=\"1004231568\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-grabs-110m-sf-office-tower\/1390-market-st-san-francisco\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/1390-Market-St.-San-Francisco.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;0&quot;}\" data-image-title=\"1390 Market St., San Francisco\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1390 Market St., San Francisco&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/1390-Market-St.-San-Francisco.jpg?w=800\" class=\"wp-image-1004231568 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/1390-Market-St.-San-Francisco.jpg\" alt=\"1390 Market St., San Francisco\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/1390-Market-St.-San-Francisco.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/1390-Market-St.-San-Francisco.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/1390-Market-St.-San-Francisco.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004231568\" class=\"wp-caption-text\">1390 Market St., San Francisco<\/p><\/div>\n<p>Continuing its buying binge, Swift Real Estate Partners has acquired a subdivided condominium interest in the 219,700-square-foot office asset at 1390 Market St. in San Francisco. The real estate investment company purchased the $109.8 million condo interest from Broadreach Capital, which had owned the asset since picking it up for $42.7 million in 2007.<\/p>\n<p>Completed in 1967 and most recently renovated in 2007, 1390 Market features approximately 1,000 square feet of ground-level retail space and a location within close proximity to a BART\/Muni station in the city\u2019s Mid-Market area. The tower is home to such notable tenants as Twitter and the City of San Francisco, which renewed a 69,400-square-foot lease for the City Attorney\u2019s office during the second quarter of 2017.<\/p>\n<p><em>\u201cWe believe 1390 Market has the potential to be Mid-Market\u2019s premiere multi-tenant destination appealing to a wide array of tenants, including those in government and tech,\u201d<\/em> Tommy Christman, a director with Swift Real Estate Partners, said in a prepared statement. Swift financed the purchase with a $103.6 million, floating-rate acquisition loan arranged through Brookfield by commercial real estate and capital markets services firm HFF, which also marketed the property on behalf of the seller.<\/p>\n<p>Swift\u2019s transaction at 1390 Market, however, excluded the multi-floor <a href=\"https:\/\/www.commercialsearch.com\/news\/archstone-sells-fox-plaza-in-san-fran-for-135m\/\">Fox Plaza Apartments residential segment<\/a> that tops the 29-story, LEED Gold-certified building.<\/p>\n<h2>Buy some, sell some<\/h2>\n<p>Swift has been quite acquisitive over the last 12 months, procuring properties in key markets across the West Coast. The real estate company added 2175-2185 N. California Blvd., a 325,000-square-foot Silicon Valley office property in Walnut Creek, Calif., to its portfolio in a $117 million transaction. Farther down the coast, in San Diego, Swift purchased the 233,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-secures-43m-san-diego-acquisition-financing\/\">office tower at 530 B St.<\/a> for $57.7 million.<\/p>\n<p>In addition to augmenting its portfolio, Swift has sold a number of assets over the last year, including the 20,800-square-foot creative office building at 2485 McCabe Way in Irvine, Calif., for $7 million. The company also pocketed $28.5 million on the disposition of Sixth at Yamill, a 109,725-square-foot creative office property in Portland.<\/p>\n<p><em>Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The subdivided condominium interest in the 219,700-square-foot building at 1390 Market St. last traded in 2007 in a deal valued at $42.7 million.<\/p>\n","protected":false},"author":969,"featured_media":1004231568,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21742,21747,1609,15],"tags":[33434,32792,34208,37964],"class_list":["post-1004231560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-latest","category-office","category-san-francisco","category-west","tag-broadreach-capital-partners","tag-hff","tag-swift-real-estate-partners","tag-twitter"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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