Aralon Properties Acquires Mixed-Use Asset At 101 Utah Street For $11.5 Million From BMO Bank

The mixed-use property located at 101 Utah Street in San Francisco was sold for $11,500,000. The asset encompasses 72,000 square feet, translating to a price per square foot of $160. This property had previously been in a challenging situation due to financial issues, specifically following a default on a $47.6 million loan by Swift Real Estate Partners, leading BMO Bank to acquire it.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $11,500,000
• Buyer: Aralon Properties
• Seller: Darrel Hackett - BMO Bank
• Brokers: Josh Peterson, Mark Geisreiter & Seth McKinnon - Newmark
• Market: San Francisco
• Square Footage: 72,000
• Price per Square Foot: $160

Darrel Hackett represented BMO Bank in the sale of the property. The brokers involved in the transaction were Josh Peterson, Mark Geisreiter, and Seth McKinnon from Newmark, playing a significant role in facilitating the deal.