CASE STUDIES

Patson Portfolio

Loan Amount: $41,000,000 Closed: 2nd Quarter 2005 Locations: 275 Sacramento, San Francisco, CA 340 Pine St., San Francisco, CA 3700 Geary Blvd., San Francisco, CA 1149 S. Main St., Walnut Creek, CA
	Client: The Patson Companies, San Francisco, CA
	Properties: A portfolio of four properties including A 75,000 sf retail/office building in downtown San Francisco, anchored by Walgreens and Open TV A 54,000 sf multi-tenanted office building in downtown San Francisco A 30,000 sf single-tenant retail building in San Francisco A 29,000 sf single tenant retail building in downtown Walnut Creek.
	Assignment: Arrange long term, variable rate financing for the portfolio
	Challenges: Client needed flexibility to sell individual properties with limited prepayment penalty Timing: quick close transaction Potential near-term rollover Single non-credit tenant occupies approximately 1/3 of the total floor area of the portfolio
	Results: Rate: 90 day LIBOR +103 Lender Fee: 0.5% 7 year term with 25 year amortization Prepayment: Year 1 - 1.0%; Years 2-3- 0.5%; Years 4-7 - Par No reserves Non recourse, no warm bodies Minimal interest rate cap requirement