Swift Real Estate Refinances 101 Utah in San Francisco for $47.6MM, Plans Redevelopment

CBRE, 101 Utah, Swift Real Estate Partners, Showplace Square, San Francisco
Courtesy of CBRE

Bay Area Struggling to Meet Booming Demand for PDR and Lab Space

SAN FRANCISCO – Jan. 4, 2022 – CBRE has arranged $47.6 million in refinancing for 101 Utah St. in San Francisco. Mike Walker and Brad Zampa with CBRE Capital Markets’ Debt and Structured Finance group secured the five-year, floating rate loan through the regional office of a balance sheet bank. The borrower, Swift Real Estate Partners, will apply the debt to the redevelopment of the building into Class A lab space. 

101 Utah is located in the Showplace Square District of San Francisco and has unobstructed visibility from the Central Freeway. The transit-oriented site is within walking distance to the 16th St. BART Station, the King Street CalTrain Station, and the future Central subway station. It is also adjacent to the US-101 and the I-80 on and off ramps and has parking. 

The renovation is already underway and will create large windows along Utah Street, skylights, interior mezzanines, and will upgrade the power to 4,000+ amps. The renovation will deliver in mid-2022. 

“The redevelopment of 101 Utah will meet a critical need in the market for high quality PDR and lab space. The property already has an ideal location, is close to transit, freeways, and key research institutions. The investments Swift is making will add the building amenities most in demand by today’s tenants,” said Mr. Walker, senior vice president, CBRE.   

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

About Swift Real Estate Partners 

Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco, and has regional offices in Orange County, Portland, the East Bay and Silicon Valley. Swift is a vertically-integrated real estate investment firm which seeks to generate superior risk-adjusted returns for its partners. Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than 10 million square feet. Swift’s first institutional fund was raised in 2014 and is fully deployed. Swift’s Fund II was raised in 2016 and is fully committed. Swift is presently investing on behalf of Fund III. Swift’s investor base includes U.S. pension funds, endowments and foundations, as well as foreign investors and investment advisors. Swift’s professionals bring experience encompassing all aspects of real estate investment management, including acquisition, financing, leasing, disposition, construction oversight and property management. 

West Coast Commercial Real Estate News