Multifamily / Unit Conversion
Multifamily Portfolios
Transaction Highlights
Size: 23 properties (2 separate portfolios)
Use: Multifamily (w/ retail)
Neighborhood: San Francisco



  • Two multifamily portfolios comprising 913 total units, the portfolios spanned 23 properties across 10 neighborhoods, representing an unprecedented opportunity to invest in a diverse cross-section of San Francisco multifamily properties
  • Prado and its partners were able to purchase two apartment portfolios off-market directly from special servicers in two separate transactions
  • Employed value-add strategies, including unit renovations and unit conversions, which increased cash flow and made the apartments more competitive with newer construction
  • Activated the ground floor retail spaces in many of the properties, creating additional amenities for residents
  • Prado successfully recapitalized both portfolios with a university endowment in 2016
  • Prado ultimately sold portfolios in 2018