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Goldman Sachs has provided $815 million of financing against a portfolio of 62 apartment properties in San Francisco owned by a venture of Veritas Investments Inc. and Baupost Group.
The financing was arranged by Eastdil Secured.
Veritas, which is led by investor Yat-Pang Au, and Baupost, of Boston, had acquired loans against properties in the portfolio through a number of transactions after Lembi Group, their previous owner, had filed for bankruptcy. The portfolio, with 1,853 units, also includes retail and other commercial space.
The properties, some of which were constructed more than 100 years ago, range in size from four units to 79 and are scattered in a number of San Francisco neighborhoods, including its downtown, Pacific Heights, Russian Hill, Marina, Mission District and Haight Ashbury areas. The Veritas/Baupost team... |