San Francisco Mixed-Use Project Lands $22M Refi
- Jun 09, 2020
Developer Erik Liu of Transworld Construction has secured a $22 million loan for 1178 Folsom St., a 42-unit mixed-use project in San Francisco.
Columbia Pacific Advisors provided the loan, which will be used to retire existing financing and complete the project. Designed by David Baker Architects, the project is set to be delivered in September 2020.
Located between Eighth and Rausch Streets within the newly adopted Western SOMA development plan, the property is less than three blocks from the global headquarters of Uber and Twitter. The project comprises four levels of micro-units ranging in size between 290 and 350 square feet, ground level restaurant space and a full floor of office space. Common-area amenities include a third-level terrace, sixth-level community room and laundry lounge.
At the beginning of the year, Columbia Pacific Advisors began construction on The Variel, a 336-unit luxury senior community in Los Angeles. The project is being developed in partnership with South Bay Partners and LAMB Properties.