Strategy

• Prime underutilized site on one of the best streets in San Francisco
• Urban infill project
• 99-year ground lease negotiated off-market with long-term ownership
• ROFO in the event that the family decides to sell fee simple interest

Execution

• Prado designed a creative mixed-use project with 49 apartments over 16,000 square feet of ground floor retail and 7,000 sq. ft. of basement grocery retail
• Prado has secured 4 LOIs from high-credit grocers for the basement retail space

Results

• Entitlements expected Winter 2020
• Prado will seek to recapitalize project with institutional partner for vertical development