HFF has arranged $371.7 million in non-recourse construction financing on behalf of Tishman Speyer for 201 Folsom, a two-tower, 655-unit, luxury condominium development in the heart of downtown San Francisco.
201 Folsom was designed by Arquitectonica and will encompass two high-rise towers and two mid-rise podiums arranged around a private courtyard. The project will also include 10,963 s/f of ground-floor retail and amenities such as concierge service, valet parking, a health club, swimming pool, private dining, rooftop space and a private screening room.
The 1.7-acre site is situated directly across from The Infinity, which was also developed by Tishman Speyer and is the largest residential condominium development ever built in San Francisco.
The first podium is due for completion in March 2015 and the final building is scheduled to be completed in January 2016.
The HFF team, led by senior managing directors Mike Tepedino and Bruce Ganong and team members Michael Gigliotti, Jennifer Keller and Brandon Roth, secured a single source lender in Cornerstone Real Estate Advisers, on behalf of an institutional investor, to provide the non-recourse construction financing.