Pine Grove
4 Orinda Way, Orinda, CA, 94563-2515, US
8 181 mètres carrés
Attributs
Occupation
33,5 %
VALSE
1.8 années
Nombre d'étages
11
Superficie du bâtiment nette
13 772 mètres carrés
Solde du principal non payé
65 691 170 $
Balance PSF
$320
Appel d'offres
2025-09-24
Descriptif
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller, a CMBS Special Servicer, to arrange the sale of a $47.5 million non-performing first mortgage loan (the “Loan”). The Loan is secured by a leasehold interest in a Class-A office building located in San Francisco, California (the “Property”). The Loan was originated in August 2019 to facilitate the acquisition of the Property. In August 2023, the Loan became non-performing via a monetary default. As of August 2025, the Loan has an unpaid principal balance of $47,500,000 ($320 PSF).
The Property comprises 148,243 SF, standing 11 stories above the Financial District of San Fransico and was 33.5% leased with 1.8 years of WALT, as of August 2025. The building boasts large windows - capturing significant natural light, 20,000 SF of ground floor amenity retail, and suburb transportation - located steps away from a BART station.
...
Points forts de l'investissement
Flight to Quality
The Property showcases a lively office environment, with creative potential. Features include a brick exterior, massive windows, valet parking, a secured bike room, and proximity to Union Square, hundreds of restaurants, storefronts, and hotels. Hovering close to 30.0% occupancy (as of August 2025), the remaining space is well positioned for investors to significantly boost cash flow through continued leasing.
Powerful Submarket Momentum
Q1 2025 posted the strongest office leasing volume since the pandemic - approximately 3 million square feet was leased in the city during the quarter. The Financial District commands the highest rents in the city, with a 32.0% YoY volume increase.
True CBD Lifestyle
The Property is strategically located on the corner of Kearny and Sutter Street, nestled within San Francisco’s Central Business District. With a Walk Score of 100, the access to amenities is unparalleled. The BART system is located a block away as well, offering seamless access to the rest of the city.
Attractive Basis
At $47,500,000 in total unpaid principal balance, the Loan basis is well below the Borrower’s acquisition basis in 2019 of $74,500,000 and the replacement cost.
Média
$47.5 Million Non-Performing San Francisco Office Loan (0 Propriétés)
Contactez les courtiers
JLL peut vous aider à financer et à gérer votre portefeuille. Envoyez-nous un courriel aujourd'hui pour voir comment nous pouvons vous aider à réaliser vos ambitions.
Dernière mise à jour
25 août 2025