Strategy

• Secured one of the high-quality San Francisco assets off-market through a combination of a direct relationship with the seller and prior experience with the seller’s broker.
• The 72-unit rent-control property boasts coveted views of the Bay Bridge, Golden Gate Bridge, Grace Cathedral, Mount Diablo, and Huntington Park and as well as subterranean parking.
• The property is an irreplaceable institutional quality asset given a 14-story high-rise view property is not possible to build today at the top of Nob Hill.
• The property was acquired through a joint venture between Prado Group and Felson Companies.
• We are acutely aware of market conditions and the valuation of this asset and continue to evaluate value-add strategies including unit renovations and conversions.