Cleary Gottlieb represented Goldman Sachs Bank USA (Goldman Sachs), as origination counsel, in a $240 million mortgage loan to funds advised by ARK Capital Advisors to acquire an office building located at 600 California Street in San Francisco, California.
Goldman Sachs funded $140 million of the loan amount alongside Citi Real Estate Funding Inc., which funded the remaining $100 million. The building is currently approximately 50% leased to affiliates of WeWork.
The transaction closed on August 13, 2019.
ARK Capital Advisors is the recently formed real estate investment platform launched by The We Company in May 2019 and benefits from $2.9 billion of committed capital to its advised funds.