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520 Geary Street
FINANCED

Apollo Global Management Funds $410M Loan For San Francisco Multifamily Portfolio

520 Geary Street

MultiFamily
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Summary

Loan
CALIFORNIA
MultiFamily

The Multifamily Portfolio in San Francisco, consisting of 2,150 units across 75 apartment properties, has secured a senior loan of $410 million. This financing was provided by Marc Rowan of Apollo Global Management for the SF75 venture, jointly owned by Adrian Foley of Brookfield Corp. and Greg MacDonald of Ballast Investment. The venture acquired the properties from Veritas Investments, eliminating $155 million of mezzanine debt in the process.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $410,000,000
  • Address: San Francisco
  • Units: 2,150
  • Lender: Marc Rowan - Apollo Global Management
  • Landlord: Adrian Foley - Brookfield Corp.; Greg MacDonald - Ballast Investment

Apollo Global Management's financing of $410 million has enabled the SF75 venture to take over the large portfolio of San Francisco apartment properties, signaling a significant transaction within the real estate market. With Adrian Foley representing Brookfield Corp. and Greg MacDonald representing Ballast Investment, this deal brings together key industry players in the realm of multifamily real estate.

Details

Deal Summary
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FINANCED
IMAGE: 04/05/2024 ADDRESS: Multifamily Portfolio MARKET: San Francisco ASSET TYPE: Multifamily ~ UNITS: 2,150 LENDER: Marc Rowan - Apollo Global Management LANDLORD: Adrian Foley - Brookfield Corp.; Greg MacDonald - Ballast Investment LOAN AMOUNT: $410,000,000 LOAN TYPE: Senior Loan NOTE: Apollo Global Management have provided $410 million in senior financing for a portfolio of 75 San Francisco apartment properties, totaling 2,150 units, owned by a Brookfield Corp. and Ballast Investment venture, known as SF75. The venture took over the properties, previously owned by Veritas Investments, through acquiring defaulted debt against them, resulting in the elimination of approximately $155 million of mezzanine debt.

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Address520 Geary Street

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