HFF Supplies $114M for SF Properties

Mosser Capital's portfolio includes 455 units and 13 ground-floor retail suites. The properties are located near mass transit and employment centers.

HFF has supplied $113.5 million in financing for a portfolio of a dozen San Francisco properties encompassing 455 units and 13 ground-floor retail suites. The HFF team worked on behalf of borrower Mosser Capital, an investor, acquirer and operator of value-add, rent-stabilized urban workforce housing in the Golden Gate City, to secure the six-year, floating-rate loan. The loan, including extension options and made through an affiliate of Walton Street Capital LLC, included interest-only payments through the first five years of the term.

The portfolio’s properties are 36-unit 775 Geary, 58-unit 1029 Geary, eight-unit 17 Decatur, 50-unit 840 Van Ness, 21-unit 2360 Van Ness, 48-unit 245 Leavenworth, 38-unit 305 Hyde, 40-unit 347 Eddy, 25-unit 371 Turk, 47-unit 575 O’Farrell, 38-unit 618 Bush and 46-unit 891 Post.

Each of the communities is situated near mass transit, employment and retail amenities in the city’s highly desirable Civic Center, South of Market, Chinatown and Russian Hill submarkets.

Diverse array of providers

The HFF Debt placement team representing the borrower included senior managing director Peter Smyslowski and associate Bercut Smith. “The sound economic fundamentals of this multi-housing portfolio and the San Francisco market attracted a diverse array of domestic and foreign capital providers,” Smyslowski said. “Mosser could not have been more impressed by Walton Street’s expert loan execution.”