Cohen Financial Secures More Than $48.75MM for 12 Multifamily Properties Located In And Around San Francisco And The Bay Area
San Francisco (March 29, 2012) – Cohen Financial, a national real estate capital services firm, today announced that it has secured a total of $48.756 million for 12 multifamily properties in and around San Francisco, California. Kenneth M. Fox, CCIM, a Managing Director in Cohen Financial’s San Francisco office, originated the competitively priced, fixed-rate loans for a San Francisco based commercial real estate multifamily investor.
Cohen Financial secured a total of $15.7 million from a Northern California bank to refinance two apartment properties. A 63 unit apartment property located at 16th Street and a 40 unit apartment building at 250 Taylor Street. Both properties are located over street level commercial space in San Francisco.
The company also secured $33.056 million in acquisition financing for a portfolio of 10 multifamily properties. Eight of the properties are located in Marin County, one in Napa County and one in Sonoma County. The 10 properties include 275 apartment units in total. The acquisition loans were financed by three regional California banks and Fannie Mae in association with Greystone Servicing Corporation, Inc.
“This was a difficult transaction, however, we were very happy with the outcome of the financing based on the fact that we were able to deliver competitive loan terms to meet the borrower’s needs,” said Mr. Fox.
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, investment brokerage, loan administration and advisory services. Marking 34 years of capital markets experience in 2012, the company is well recognized as one of the nation’s leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Cohen Financial serves clients throughout the U.S. from offices in 9 major markets.
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Tagged Bay Area, California, CCIM, Cohen Financial, commercial real estate, Marin County, Multifamily, Napa County, Northern California, real estate, Residential real estata, San Francisco, Sonoma County