Capital One announced it has provided a $60.6 million, seven-year, interest-only loan to refinance Rialto on New Montgomery, a 137,000-square-foot office tower with ground floor retail on the corner of Mission and New Montgomery Streets in San Francisco’s South Financial District. Jamestown Properties, through its Premier Property Fund and Jamestown 29 L.P & Co., purchased the property in December 2015 in an all-cash transaction.
“We are pleased to support a leading real estate organization like Jamestown and help them finance this premier property,” said Paul Kesicki, Senior Vice President for Capital One’s Commercial Real Estate Group. “We value our longstanding relationship with Jamestown, and we look forward to working with them on future transactions.”
Jamestown is a national investment and management company focused on income-producing real estate in the United States, with approximately $9.9 billion of assets under management.
Built in 1901, Rialto on New Montgomery recently emerged from a comprehensive $18 million renovation and repositioning program, which has turned the building into a leading destination for creative users and commanded among the highest rents in the market. The building is 97 percent leased with tenants from such sectors as venture capital, energy, advertising, online delivery, and consulting.
Capital One Bank’s Commercial Real Estate Group provides financing in markets nationwide, offering a comprehensive array of solutions for property owners and developers, including balance sheet and agency lending, financing, underwriting, and treasury management.
Founded in 1983 with headquarters in Atlanta, Georgia and Cologne, Germany and offices in New York City, San Francisco, California and Washington, D.C., Jamestown is a leader in acquisitions and value added management. Over 30 years, Jamestown has generated approximately $9.9 billion in strategic investments. The company is focused across the risk spectrum with core, core-plus and opportunistic funds in two primary markets: 24-hour cities and Sunbelt territories with strong demographic growth.