SAN FRANCISCO–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24HF&src=ctag" target="_blank"gt;$HFlt;/agt; lt;a href="https://twitter.com/hashtag/CRE?src=hash" target="_blank"gt;#CRElt;/agt;–HFF announces it has arranged joint venture equity for the development
of 1629 Market Street, a fully entitled, 420-unit multi-housing project
in San Francisco, California.
Working on behalf of the developer, Strada Investment Group, HFF
arranged a joint venture equity partnership with an affiliate of
Stockbridge Capital Group for the approximately $320 million project.
1629 Market Street will encompass 420 units averaging 732 square feet
along with nearly 9,000 square feet of retail situated within three
mid-rise buildings that will share a sub-grade parking garage. The
project will be constructed on 1.7 acres at the intersection of Van Ness
Avenue and Market Street in San Francisco’s Mid-Market technology hub.
The 24/7 location provides access to more than 400 restaurants and bars
within an eight-block radius along with immediate access to public
transportation options and approximately 30 percent of the city’s
largest technology-based companies, all of which has garnered the site a Walk
Score® of 99. The project is due for completion in mid-2021.
The HFF equity placement team representing the developer included
managing director Scott Bales along with senior managing director
Charles Halladay, managing director Jordan Angel, director Peter Yorck
and analysts Eric Bet and Nolan Moore.
Holliday GP Corp. (“HFF”) is a real estate broker licensed with the
California Department of Real Estate, License Number 01385740.
About Strada Investment Group
Headquartered in San Francisco, Strada is a vertically integrated real
estate investment company with a proven track record in acquisition,
development and advisory services. The firm was founded in 2010 by
principals Jesse Blout, Michael Cohen and Scott Stafford, with a unique
mix of public and private sector real estate experience. Supported by a
team of real estate professionals with expertise in research,
acquisitions, asset management, and construction and development, Strada
has managed more than $1 billion of real estate assets with top-tier
institutional capital partners, and currently has more than two million
square feet in the development pipeline.
About Stockbridge Capital Group
Stockbridge Capital Group (http://stockbridge.com)
is a real estate investment management firm headquartered in San
Francisco, California, with offices in New York, Chicago and Atlanta.
The firm’s portfolio is comprised of assets across the risk spectrum,
spanning all major property types throughout the United States. As of
December 31, 2018, the firm’s total assets under management totaled
approximately $13.5 billion.
HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE: HF). For more information, please
or follow HFF on Twitter @HFF.
CA Lic. #01002027
HFF Managing Director
CA Lic. #01999279
HFF Public Relations Specialist