{"id":1004327369,"date":"2019-05-29T05:10:34","date_gmt":"2019-05-29T13:10:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004327369"},"modified":"2019-05-29T05:10:34","modified_gmt":"2019-05-29T13:10:34","slug":"san-francisco-office-asset-secures-100m-in-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-office-asset-secures-100m-in-financing\/","title":{"rendered":"San Francisco Office Asset Secures $100M in Financing"},"content":{"rendered":"<div id=\"attachment_1004327372\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/795_Folsom-Exterior-med-res-e1559075226863.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004327372\" data-attachment-id=\"1004327372\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-office-asset-secures-100m-in-financing\/795_folsom-exterior-med-res\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/795_Folsom-Exterior-med-res-e1559075226863.jpg\" data-orig-size=\"843,631\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;C. Taylor Crothers&quot;,&quot;camera&quot;:&quot;NIKON D4&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1469133248&quot;,&quot;copyright&quot;:&quot;C. Taylor Crothers&quot;,&quot;focal_length&quot;:&quot;28&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.0025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"795_Folsom-Exterior-med-res\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;795 Folsom St. Image courtesy of ASB Real Estate Investments&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/795_Folsom-Exterior-med-res-e1559075226863.jpg?w=843\" class=\"wp-image-1004327372 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/795_Folsom-Exterior-med-res-e1559075226863.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/795_Folsom-Exterior-med-res-e1559075226863.jpg 843w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/795_Folsom-Exterior-med-res-e1559075226863.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/795_Folsom-Exterior-med-res-e1559075226863.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004327372\" class=\"wp-caption-text\">795 Folsom St. <em>Image courtesy of ASB Real Estate Investments<\/em><\/p><\/div>\n<p>ASB Real Estate Investments has secured a $100 million loan for its San Francisco office asset, 795 Folsom St. The five-year, fixed-rate loan provided by Capital One at a 3.4 percent interest rate was secured on behalf of Allegiance Real Estate Fund, an investment vehicle owned by ASB.<\/p>\n<p>The six-story, 189,000-square-foot building is located in the heart of the SOMA district, near the Moscone Center, the future site of a Central Subway station and a variety of shopping and dining options. Built in 1977, the property is also located a short distance from interstates 80 and 280. ASB purchased the asset in 2013 from seller Barings for $109.6 million.<\/p>\n<p>San Francisco\u2019s office market has <a href=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-office-report-spring-2019\/\">continued to show strength<\/a> over the past year, led by the city\u2019s powerful tech and financial industries. Last year, 4.2 million square feet of office space was added to the city\u2019s inventory, according to a recent Yardi Matrix report. Last month, a <a href=\"https:\/\/www.commercialsearch.com\/news\/bay-area-project-leased-to-facebook-scores-515m-financing\/\">sprawling office campus<\/a>&nbsp;in nearby Burlingame, Calif., secured $515 million in financing. The project is being developed by Kylli Inc. and will be fully occupied by Facebook\u2019s virtual reality firm Oculus once completed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASB Real Estate Investments has obtained the loan for 795 Folsom St., a six-story property in the city\u2019s SOMA district that the company acquired in 2013.<\/p>\n","protected":false},"author":745,"featured_media":1004327372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,21747,1609,15],"tags":[45410,33643,33139],"class_list":["post-1004327369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-office","category-san-francisco","category-west","tag-asb-allegiance-real-estate-fund","tag-asb-real-estate-investments","tag-capital-one"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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