{"id":1004286935,"date":"2018-12-18T09:06:00","date_gmt":"2018-12-18T17:06:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004286935"},"modified":"2022-12-08T18:55:24","modified_gmt":"2022-12-09T02:55:24","slug":"swift-real-estate-acquires-san-francisco-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-san-francisco-office-building\/","title":{"rendered":"Swift Real Estate Acquires San Francisco Office Building"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004286938\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Sharon-Building.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004286938\" data-attachment-id=\"1004286938\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-san-francisco-office-building\/sharon-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Sharon-Building.jpg\" data-orig-size=\"640,512\" 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=\"Sharon Building\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Sharon Building&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Sharon-Building.jpg?w=640\" class=\"wp-image-1004286938 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Sharon-Building.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Sharon-Building.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Sharon-Building.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004286938\" class=\"wp-caption-text\">Sharon Building<\/p><\/div>\n<p>Swift Real Estate Partners has purchased the Sharon Building, a 103,861-square-foot historic office property in San Francisco, from Bernheim Cos. for $64.3 million, according to Yardi Matrix. A private lender originated $71.5 million of acquisition and development financing, which the new owner will use to renovate the 1912-built property. The mortgage terms provide for interest-only payments over the five-year term of the loan.<\/p>\n<p>Located at 55 New Montgomery St. in the city\u2019s South Financial District, the nine-story building is within a quarter mile of nearly 19 million square feet of Class A office space. Offering accessibility with a location two blocks from a BART station, the asset is situated less than 1 mile from Interstate 80. A wide variety of retailers and hotels operate in the immediate area.<\/p>\n<p>The building is almost fully leased, with a vacancy rate of 1.3 percent, per Yardi Matrix data. The property&#8217;s tenants include an extensive roster of law firms and medical offices, as well as Caldwell Securities, Tax Aid and BRS Media. In addition to the office element, the asset contains around 13,500 square feet of retail space.<\/p>\n<p>In May, Swift <a href=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-grabs-110m-sf-office-tower\/\">picked up a nearly 220,000-square-foot office tower<\/a> a mile southwest of the Sharon Building for $110 million. That property previously changed hands in 2007 for $43 million.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buyer funded the transaction with an acquisition and development loan from a private lender. The 1912-built historic property is almost fully leased.<\/p>\n","protected":false},"author":861,"featured_media":1004286938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21747,1609,15],"tags":[36351,34208],"class_list":["post-1004286935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-capital-improvement","tag-swift-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Swift Real Estate Acquires San Francisco Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-san-francisco-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swift Real Estate Acquires San Francisco Office Building\" \/>\n<meta property=\"og:description\" content=\"The buyer funded the transaction with an acquisition and development loan from a private lender. The 1912-built historic property is almost fully leased.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-san-francisco-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-18T17:06:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:55:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Sharon-Building.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/swift-real-estate-acquires-san-francisco-office-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/swift-real-estate-acquires-san-francisco-office-building\\\/\"},\"author\":{\"name\":\"Jeff Hamann\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"headline\":\"Swift Real Estate Acquires San Francisco Office Building\",\"datePublished\":\"2018-12-18T17:06:00+00:00\",\"dateModified\":\"2022-12-09T02:55:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/swift-real-estate-acquires-san-francisco-office-building\\\/\"},\"wordCount\":230,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/swift-real-estate-acquires-san-francisco-office-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/12\\\/Sharon-Building.jpg\",\"keywords\":[\"Capital improvement\",\"Swift Real Estate Partners\"],\"articleSection\":[\"Deals\",\"Finance\",\"Investment\",\"News\",\"Office\",\"San Francisco\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/swift-real-estate-acquires-san-francisco-office-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/swift-real-estate-acquires-san-francisco-office-building\\\/\",\"name\":\"Swift Real Estate Acquires San Francisco Office Building - 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