Trinity Refinances 7 San Francisco Assets

The new loan of more than $200 million retires existing debt from the same lender on the 736-unit Class B portfolio.

Trinity Properties has landed a $203.8 million refinancing package from PGIM Real Estate Finance for seven of its Class B communities in San Francisco. The portfolio includes 736 units.

The new mortgages replace prior debt originated by PGIM between 2012 and 2013.

The communities are located in the Golden Gate Park, Northeast San Francisco and Central San Francisco submarkets.

  • 2000 Broadway, 222 units
  • Casa Dolores at 240 Dolores St., 120 units
  • Bay Stockton at 2133 Stockton St., 105 units
  • Telegraph Hill at 350 Union St., 90 units
  • 1000 Chestnut St., 84 units
  • Clay Park Towers at 1890 Clay St., 74 units
  • 2130 Stockton St., 41 units

The properties were built between 1955 and 1974 and had a weighted average occupancy rate of 97.1 percent in July, per Yardi Matrix data.

In August, Capital One provided a nearly $180 million Fannie Mae loan to refinance a community in Menlo Park, Calif.

Images courtesy of Yardi Matrix

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