The Martin, a Development in Dogpatch Receives a $35.1MM Loan from Capital One

The Martin, Dogpatch, Capital One, Raintree Partners, San Francisco, Newport Beach, Crane Cove Park, Kristen Croxton, Greg Reed, construction loan

The-Martin-300x160Raintree Partners of Laguna Niguel, Calif., just secured a construction loan for its development in San Francisco called The Martin, a six-story, 92-unit residential building that will be built in the Dogpatch neighborhood.

This deal represents a first for the Newport Beach office of Capital One led by Kristen Croxton and Greg Reed, both senior vice presidents, who originated the transaction.

The development, which will be located in of San Francisco’s fastest growing new neighborhoods, will feature twelve affordable units, a parking garage, fitness center, storage for bicycles as well as a rooftop lounge and dining area. The building is planned to have unobstructed views of the vicinity and will be next to San Francisco Port’s new Crane Cove Park.

The loan is a three-year, interest-only loan with the possibility of two one-year extensions.

West Coast Commercial Real Estate News