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amestown has secured another deal with lender Capital One to retain ownership of its 93,000-square-foot retail-office building at 731 Market Street in Downtown San Francisco. This comes six months after the firm negotiated an agreement to keep its Rialto Building across from Union Square. Jamestown had defaulted on $93.1 million in mortgages linked to both buildings last year.

    The new deal was reached after Capital One requested a lawsuit against Jamestown be dismissed, seeking to place the building at 731 Market into receivership and seize it through foreclosure. An unidentified spokesperson for Jamestown stated that the firm had paid its debt and would keep the building.

    In 2015, Jamestown purchased both buildings for $176.5 million, paying $820 per square foot for the Rialto Building on New Montgomery Street and $700 per square foot for the building at 731 Market Street. Last fall, a Virginia-based bank served notice of default for a $60.6 million loan tied to the Rialto Building.

    Jamestown had previously reached a settlement with Capital One in April, allowing it to retain the Rialto Building. The terms of this deal were undisclosed, but a reconveyance suggested that Jamestown had paid down some or all of its debt. Locally based TMG Partners was also in talks to buy the building at 731 Market Street earlier this year, but the deal fell through due to complications from Jamestown's delinquent loan.

    JLL has listed each floor of the building for lease, with an empty storefront leased to CVS. Jamestown owns several properties in San Francisco, including Ghirardelli Square and Levi's Plaza, with $11.6 billion in assets under management as of last year.