HFF Closes Sale of Jasper in San Francisco, California
Business Wire 29-May-2019 4:17 PM
HFF announces it has closed the sale of Jasper, a 319-unit, luxury
high-rise apartment building in San Francisco, California.
HFF represented the seller, Crescent Heights, in the sale of the
property to the buyer, Northwestern
Mutual. The property was purchased free and clear of existing
financing.
Jasper is located at 45 Lansing Street adjacent to Interstate 80 and the
entrance to the San Francisco-Oakland Bay Bridge. The property is also
within walking distance to the Embarcadero BART Station and the
Financial District less than a mile to the north. Completed in 2016, the
40-story property comprises a mix of studio, one-, two- and
three-bedroom floor plans totaling 303,826 rentable square feet.
Residence amenities include stainless steel Bosch cooking suites with
built-in dishwashers, Caesarstone countertops, full-size washers and
dryers, dual-zone air conditioning and heating, roller shades, patios
and terraces and keyless home entry. Community amenities include a
resort-style pool, club lounge with interactive video wall, on-site
movie theater, dog walking service, fiber optic Wi-Fi, 24/7 concierge
service and valet parking. The LEED Silver-certified property is 96%
percent occupied.
The HFF investment advisory team representing the seller included
executive managing director Matthew Lawton, managing director Scott
Bales and director Peter Yorck.
Holliday GP Corp. ("HFF") is a real estate broker licensed with the
California Department of Real Estate, License Number 01385740.
About Crescent Heights
Crescent Heights is the nation's leading urban real estate firm,
specializing in the development, ownership and operation of
architecturally distinctive mixed-use high-rises in major cities across
the United States. For over three decades, the firm has successfully
completed land entitlements, built new construction projects and created
value-add strategies for existing developments. The firm's diverse
portfolio is built on a wide range of product types, including
design-savvy micro units, spacious signature residences and extensive
indoor and outdoor amenity packages reaching up to 75,000 square feet.
Known for its commitment to innovation, Crescent Heights has a long
history of catalyzing the evolution of emerging neighborhoods with
creatively conceived projects. For more information, please visit http://www.crescentheights.com/.
About Northwestern Mutual
Northwestern
Mutual has been helping families and businesses achieve financial
security for more than 160 years. Through a distinctive,
whole-picture planning approach, Northwestern Mutual empowers its
clients to make the most of every single day and plan for important
moments in their future. Northwestern Mutual combines the expertise of
its financial professionals with a personalized digital experience to
help its clients navigate their financial lives every day. With $272.2
billion in assets, $28.5 billion in revenues, and $1.8 trillion worth of
life insurance protection in force, Northwestern Mutual delivers
financial security to more than 4.5 million people who rely on them for
life, disability income and long-term care insurance, annuities, and
brokerage and advisory services. The company manages $128 billion of
investments owned by its clients and held or managed through its wealth
management and investment services businesses. Northwestern Mutual ranks
104 on the 2018 FORTUNE 500 and is recognized by FORTUNE® as
one of the "World's Most Admired" life insurance companies in 2019.
Northwestern Mutual is the marketing name for The Northwestern Mutual
Life Insurance Company (NM), Milwaukee, WI (life and disability
insurance, annuities, and life insurance with long-term care benefits)
and its subsidiaries. Northwestern Mutual and its subsidiaries offer a
comprehensive approach to financial security solutions including: life
insurance, long-term care insurance, disability income insurance,
annuities, life insurance with long-term care benefits, investment
products, and advisory products and services. Subsidiaries include Northwestern
Mutual Investment Services, LLC (NMIS) (securities), broker-dealer,
registered investment adviser, member FINRA and SIPC; the Northwestern
Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based
financial planning services), federal savings bank; and Northwestern
Long Term Care Insurance Company (NLTC) (long-term care insurance).
About HFF
HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE:HF). For more information, please
visit hfflp.com
or follow HFF on Twitter @HFF.
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