HFF Arranges $10.45MM Non-Recourse Acquisition Financing for a 56,676-square-foot Office Building in Oakland, CA

Swig, Oakland, Wakefield Building, East Bay, San Francisco, Bay Area, Stars Investments,Cushman & Wakefield, HFF, JP Morgan Chase Bank

Swig, Oakland, Wakefield Building, East Bay, San Francisco, Bay Area, Stars Investments,Cushman & Wakefield, HFF, JP Morgan Chase BankSAN FRANCISCO, CA – January 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $10.45 million in financing to coincide with the sale of a 49 percent interest in The Wakefield Building, a 56,676-square-foot, transit-oriented, creative office building in downtown Oakland, California.

HFF worked exclusively on behalf of the borrower, a newly-formed joint venture between The Swig Company and Stars Investments, to secure the 10-year, non-recourse loan. The loan will have a fixed-rate for the first five years before converting to a floating-rate loan for the remaining five years.

Constructed in 1924 and completely renovated in 2001, the eight-story, LEED Silver-certified office building is 100 percent leased to a diverse tenant roster. The large brick building at 426 17th Street features open ceilings throughout along with abundant natural light, exposed brick walls and buildouts that cater towards the creative office user type. The transit-oriented site has a WalkScore© of 99 and is conveniently located close to the 19th Street BART station, Interstates 880 and 980, and ample adjacent parking. The property’s area is the “Location of Choice” for the technology and creative-oriented tenants driving Oakland’s leasing market.

The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Brandon Roth.

About The Swig Company
The Swig Company, LLC is a privately-owned, San Francisco-based real estate operator with a 75+ year history of investment, development, partnership and management of commercial real estate properties in major US markets. Founded by Benjamin Swig, The Swig Company is guided by a long-term investment perspective that has proven adept at stewarding investors safely through multiple market cycles. The company’s vertically-integrated operational platform, which includes investment, asset and property management expertise, uses flexibility, generational thinking and a sensitivity to sustainable practices to stay at the forefront of emerging trends in the commercial real estate industry. For more information, visit: swigco.com.

About Stars Investments
Founded in 2009, Stars Investments is the asset management company that manages the financial, private equity and real estate investments of Mr. Felipe Ibañez Scott, a Chilean entrepreneur. Stars Investments’ mandate is to preserve and increase the value of the portfolio through three investment principles; one, a long-term investment horizon, which implies consistency and discipline in portfolio construction and low asset turnover; two, conservative risk-profile and leverage levels; and three, risk diversification. As of June 2016, the real estate portfolio included holdings in Denver, Boston, Seattle, Washington D.C., New York, London, and Manchester.

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

West Coast Commercial Real Estate News