HFF Arranges $371.7MM Financing for Luxury High-Rise Condominium Project in San Francisco

NEW YORK, NY – HFF announced today that it has arranged $371.7 million in non-recourse construction financing on behalf of Tishman Speyer for 201 Folsom, a two-tower, 655-unit, luxury condominium development in the heart of downtown San Francisco.

201 Folsom was designed by world-renowned architecture firm Arquitectonica and will encompass two high-rise towers (42- and 37-stories) and two mid-rise podiums arranged around a private courtyard. The project will also include 10,963 square feet of ground-floor retail and amenities such as concierge service, valet parking, a private health club and spa, swimming pool, private dining, rooftop community space and a private screening room. The 1.7-acre site is situated directly across from The Infinity, which was also developed by Tishman Speyer and is the largest residential condominium development ever built in San Francisco. The first podium is due for completion in March 2015 and the final building is scheduled to be completed in January 2016.

The HFF team, led by senior managing directors Mike Tepedino and Bruce Ganong and team members Michael Gigliotti, Jennifer Keller and Brandon Roth, secured a single source lender in Cornerstone Real Estate Advisers, on behalf of an institutional investor, to provide the non-recourse construction financing.

“We are very pleased to have assisted Tishman in securing financing for this landmark project. Investors were extremely responsive to the strong performance of Tishman’s nearby condominium development, The Infinity, as well as the excellent location within the much sought-after Rincon Hill neighborhood,” commented Tepedino.

Tishman Speyer is one of the leading developers, owners, operators and asset managers of first class real estate worldwide. Active across North America, Europe, South America and Asia, Tishman Speyer is relied upon by many of the world’s most prestigious corporations to meet their office space needs. As of September 30, 2012, the firm had acquired, developed and/or managed a portfolio of more than 125 million square feet with a total value of more than USD $61.3 billion since its founding in 1978. www.tishmanspeyer.com.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 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 www.hfflp.com.

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