Multifamily / Mixed-Use

Site is currently improved with a 360,000 sq. ft. office building and 550 parking spaces
Structured the transaction to include a fully-prepaid 99-year ground lease with a space leaseback to UCSF with unilateral termination right
Entitle, recap, develop, sell condos, maintain apartments and retail

Secured the site in a competitive RFP process with more than 20 national and international development firms
Restructured transaction to convert speculative development and entitlement into a credit tenant leased investment with 10-year lease back and unilateral termination right under a 5.5% return on cost for covered land
Obtained approval from the California Governor for AB900 project streamlining as an environmental leadership project
Secured over 1,000,000 sq. ft. in entitlement from a 363,000 existing building
Obtained up to 92 foot heights in rezoning in 40 foot height zone
Entitled site with unanimous approval from the Planning Commission and Full Board of Supervisors for 15 buildings containing 744 units, including 558 market-rate condos and apartment homes
Prado Group is currently in the process of recapitalizing the project for vertical development