The Swig Company and STARS Real Estate Investments Purchase 945 Bryant Street in San Francisco
By: The Swig Company
945 Bryant Street is a 3-story office building that will soon house the Adult Probation Department of The City and County of San Francisco on a long-term lease for the entire building. This is one of several City departments that are or will be relocating in preparation for the planned renovation of the Hall of Justice Building.
945 Bryant is located in the Eastern Neighborhoods in an area that has been experiencing a lot of new development and property revitalization in recent years. Trammell Crow Residential is constructing a new apartment community next door to 945 Bryant. The immediate neighborhood also houses the headquarters of Airbnb, Zynga and Pinterest.
"We were drawn to potential investments in this part of The City by the transitional character of the neighborhood which continues to improve significantly thanks to investment by some significant tech companies and all the new residents filling the newly constructed apartments,"
"From a long-term perspective, we believe 945 Bryant is a great fit for our investment program. We are excited about the attractive yield with an investment grade quality tenant, while increasing our exposure to downtown San Francisco in a micro location that continues to rapidly develop and mature," said Oscar Boettiger, CEO of STARS REI.
The acquisition was financed with a new 10-year loan provided by PNC Bank. Kyle Kovac, Mike Taquino and Giancarlo Sangiacomo of CBRE arranged the transaction. Mike Walker of CBRE arranged the financing. The Chicago office of Greenberg Traurig along with the San Francisco office of Farella Braun+Martel provided legal assistance to The Swig Company and STARS REI.
About The Swig Company:
The Swig Company, LLC (http://www.swigco.com) is a privately-owned, San Francisco-based real estate operator with an 80 year history of investment, development, partnership and management of commercial real estate properties in major US markets. Founded by Benjamin H. Swig in 1936, The Swig Company is guided by a long-term investment perspective that has proven adept at stewarding investors safely through multiple market cycles. The company's vertically-integrated operational platform, which includes investment, asset and property management, and leasing expertise, uses flexibility, generational thinking and sensitivity to sustainable practices to stay at the forefront of emerging trends in the commercial real estate industry. For more information, visit: www.swigco.com.
About STARS Real Estate Investments (STARS REI):
Founded in 2009, STARS Investments is an investment management company that handles a privately held financial, private equity and real estate portfolio. STARS REI is a wholly owned subsidiary of STARS Investments, with real estate holdings in the U.S. and the U.K. Its mandate is to preserve and increase the value of the portfolio through three investment principles; one, a long-term investment horizon, which implies consistency and discipline in portfolio construction and low asset turnover; two, conservative risk-profile and leverage levels; and three, risk diversification. As of April 2019, the real estate portfolio included office, multifamily and garage holdings in Denver, Boston, Cambridge, Seattle, Washington D.C., New York City, the Bay Area, and London, and totals more than 1.3 million square feet. Stars REI maintains an office in Stamford, Connecticut in addition to its headquarters in Santiago, Chile. For more information, visit: www.starsrei.com
Page Updated Last on: May 07, 2019