CBRE Arranges $47.6 Million in Refinancing for Redevelopment of 101 Utah in San Francisco

04 Jan 2022

101 Utah_San Francisco

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 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend 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. Please visit our website at www.cbre.com.