A core fund managed by US property manager ASB Real Estate Investments has secured a $100m (€89.4m) financing from Capital One on a 189,000sqft San Francisco office building.
ASB Allegiance Real Estate Fund has financed the office building at 795 Folsom St as part of its strategy to take advantage of favourable interest rates.
ASB said it obtained the five-year, fixed-rate loan at a 3.478% interest rate.
Aaron Duncan, ASB’s senior vice president for the West Coast Region, said: “The Capital One loan is well-timed to lock in attractive financing on a strong, income-producing core asset.”
The six-story building was built in 1977 and acquired by ASB in 2013.
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