Newmark Arranges $101.6 Million Loan Sale Secured by Class A Office Tower in San Francisco

June 24, 2025 3:00 PM

Newmark announces the company has arranged the sale of a $101.6 million loan secured by 353 Sacramento Street, a 284,751 square-foot, 23-story, Class A office tower located in San Francisco’s North Financial District.

Newmark Executive Vice Chairman and President, Western Region Capital Markets Steven Golubchik, Vice Chairman Edmund Najera, Managing Director Darren Hollak, Associate Director Francesca Zappula and Associate Director Brendan Raney, represented the seller and buyer in the transaction. Newmark Co-Head of U.S. Capital Markets Adam Spies, Executive Vice Chairman Adam Doneger, Vice Chairman Christopher Kramer and Executive Managing Director Brock Cannon provided support on the transaction.

“This was a rare opportunity to acquire a loan secured by a revitalized office tower in one of the most recognizable business corridors on the West Coast,” said Golubchik. “This offering drew considerable attention from all investor profiles, including high-net-worth individuals, core-plus office capital, closed-ended funds and hedge funds.”

Since 2016, ownership has invested $41 million, approximately $145 per square foot, in improvements including a new lobby, upgraded elevator systems, modernized restrooms and market-ready tenant improvements, with nearly 70% of office space recently renovated. The property is currently 33% leased to a diverse tenant roster, with nearly 90% of suites offering panoramic views of San Francisco Bay, Telegraph Hill and the Transamerica Pyramid.

Total leasing activity in San Francisco in the first quarter of 2025 was at the highest level since 2019, and preliminary data shows that second quarter leasing activity will be even greater, according to Newmark Research. Office availability has been trending down since reaching a peak in early 2024. Newmark is currently tracking over 7.6 million square feet of office demand, the market’s highest level since 2019. Nearly 3.8 million square feet of this demand is from tech tenants, bolstered by AI sector expansion and improved sentiment toward the city’s office market.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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