Multifamily / Mixed-Use
38 Dolores
Transaction Highlights
Size: 81 units; 76,019 sq. ft. residential; 31,432 sq. ft. retail
Use: Residential/Retail
Neighborhood: Mission Dolores, SF
  • Site of the former underutilized S&C Ford auto dealership
  • Prado sourced the opportunity off-market through a complex C-Corp M&A transaction to get to the underlying real estate
  • The project obtained unanimous approval at the Planning Commission and received endorsements from the SF Bicycle Coalition, SF LGBT, SFHAC, SPUR, SF Architectural Heritage, Merchants of Upper Market Castro (MUMC)
  • Flagship 30,000 sq. ft. Whole Foods Market on the ground floor with 81 luxury residential units above
  • Refinanced and recapitalized for a long-term hold with a pension fund
  • Prado achieved the highest grocery store rents in the market
  • Whole Foods is percentage rent within 2 years
  • 2014 PCBC Gold Nugget Grand Award for Residential Project of the Year
  • 2014 PCBC Gold Nugget Grand Award for Best Multifamily Housing Project 60+ du/acre
  • 2014 MHN Best New Development: Mid-Rise of the Year