In December 2016, Hawkins served as disclosure counsel to the City and County of San Francisco in connection with its issuance of $240 million Variable Rate Multifamily Housing Revenue Bonds (Transbay Block 8 Tower) issued on behalf of an affiliate of the developer, Related Companies. The bonds will finance a portion of the cost of a new $600 million 55-story tower and surrounding buildings in downtown San Francisco.
The project will provide affordable rental housing and change the skyline of downtown San Francisco. The bonds were supported by a letter of credit issued by Bank of China. The tower was designed by architect Rem Koolhaas. This transaction is one of the most significant multi-family housing financings in California. Hawkins is proud to have served as disclosure counsel for this exciting transaction. Hawkins is a leader in the areas of disclosure, affordable housing and conduit finance.