SAN FRANCISCO, CA – December 4, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces $15 million in financing for 333-345 South B Street (“The Baywood”), a prime high-street retail and office property in downtown San Mateo, California.
The HFF team worked on behalf of B St Development, a private developer, to secure a three-year, interest-only, floating-rate loan through a national bridge lender for the renovation and tenanting of the property.
The Baywood totals 26,157 square feet of retail and creative office space. The property is situated less than three blocks from the San Mateo Caltrain station and is surrounded by all of downtown San Mateo’s retail, dining and entertainment amenities. Loan proceeds will be used for a dramatic remodel of the façade and will add a third floor totaling approximately 5,000 square feet of rentable space.
The HFF debt placement team representing the borrower included director Chris Gandy.
“The Baywood will offer a creative office product unlike any other in a Bay Area Peninsula downtown,” said Neal Yung, one of B St Development’s managing partners. “The building offers a large single-tenant creative office footprint for Downtown San Mateo, a product type currently in high demand, which is already leased to an institutional-quality credit tenant.”
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.