May 29, 2019 – 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.