fully-entitled soma development opportunity › d2 › h12qxomoctzmxwcoh5...475 minna 5 executive...

4 7 5 M I N N A S O M A / S A N F R A N C I S C O

FULLY-ENTITLED SOMA DEVELOPMENT OPPORTUNITY

CONFIDENTIAL OFFERING MEMORANDUM

CONFIDENTIALITY AGREEMENTThis is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property.

All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and Beckett Capital Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or Beckett Capital Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or Beckett Capital Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Beckett Capital Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to Beckett Capital Inc.

DISCLAIMER© 2016 Beckett Capital Inc. The information contained in this document has been obtained from sources believed reliable. While Beckett Capital Inc does not doubt its accuracy, Beckett Capital Inc has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.

Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

CREDITSBuilding Rendering by // Stanton Architecture // Stantonarchitecture.com � Aerial Photography by // Todd Quam Digital Sky Aerial Imaging // Digitalsky.us The 5M Project is a mixed-use project between partners Forest City and The Hearst Corporation. Source images for pp. 7-9 and pp. 25-26 may be found at www.5MProject.com and http://sf-planning.org/5m-project. Renderings for the 5M Project were created by architecture firm Kohn Pedersen Fox (KPF) and SITELAB Urban Studio.

EXCLUSIVELY OFFERED BY BECKETT CAPITAL INC

INVESTMENT CONTACT

DAVID NORAVIANLic 01419471

[email protected]+1 415 627 8364

BECKETT CAPITAL INC156 2ND STREET | 6TH FLOORSAN FRANCISCO, CA 94105

WWW.BECKETTCAPITAL.COM

T A B L E O F C O N T E N T S

4 7 5 M I N N AEXECUT I VE SUMMARY 1

PROJECT OVERV I EW 13

LOCAT ION OVERV I EW 24

MARKET OVERV I EW 27

4 7 5 M I N N A

Beckett Capital Inc as exclusive advisor is pleased to offer for sale the 100% fee simple interest and development rights associated with 475 Minna Street, San Francisco (the “Property”), a fully-entitled residential development site located in a prime SOMA location.

Situated on a 2,275 sf rectangular parcel and benefitting from a 120 height limit and very favorable C-3-S zoning, the Property provides an extremely rare opportunity for developers to acquire a fully-entitled residential site that allows for 15 new residences.

The Property is ideally positioned to benefit from world class shopping and dining available at Union Square. Located on Minna Street at 5th Street, the Property is just blocks from San Francisco’s world-renowned Union Square and is walking distance from the Financial District and Mid Market.

It is adjacent to Forest City’s approved 5M Project, one of the most ambitious urban infill projects that San Francisco has seen in decades. At an estimated $1B in projected development costs, the 5M Project will be a transformative mixed-use development that will offer over 600,000 sf of new office space, nearly 700 new residential units as well as 55,000 sf of new public open space and abundant new retail space.

The Property offers investors and developers a rare opportunity to acquire a fully-entitled residential site in one of the most supply-constrained markets in the United States.

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY1

THE OPPORTUNITY

475 Minna offers investors and developers a rare opportunity to acquire a fully-entitled residential development site in a core downtown San Francisco location.

CONFIDENTIAL OFFERING MEMORANDUM 2

E X E C U T I V E S U M M A R Y

PROJECT OVERVIEW

ADDRESS

475 Minna StreetSan Francisco, CA 94102

PRICE

Best Offer

PROJECT DESIGN

High-Rise (Type I)

RESIDENTIAL UNITS

15

UNIT MIX

15 one-bedrooms

LEVELS

Nine

TYPICAL FLOOR-TO-FLOOR HEIGHTS

8’ 8”

PROJECT GROSS SF

17,886

RESIDENTIAL SALEABLE SF

9,557

TYPICAL FLOORPLATES (FLOORS 2-9)

1,743

AVERAGE SALEABLE UNIT SF

637

UNIT SIZE RANGE

601 SF - 648 SF

VEHICLE STALLS / BIKE STALLS

N/A - 15 Bike Stalls

PROJECT AMENITIES

Ample roof deck with cityscape views, onsite bike storage, onsite laundry and storage, and generous open space at first floor level

BMR REQUIREMENTS

20%* (3 units)* Voluntary 20% affordable component allowed for priority processing at Planning Commission

4 7 5 M I N N A

ADDRESS

475 Minna Street

APN

3725-068

SITE AREA

2,275 SF

ZONING

C-3-S Downtown Support

HEIGHT & BULK DISTRICT

120-F

SITE OVERVIEW

PROJECT ARCHITECT

Stanton Architecture

GEOTECHNICAL

Rollo & Ridley

PHASE I ENVIRONMENTAL

AEI Consultants

PROJECT TEAM

EXECUTIVE SUMMARY3



475 Minna Street

4 7 5 M I N N A

5 EXECUTIVE SUMMARY

INVESTMENT HIGHLIGHTS

› Prime SOMA Location – The Property is a fully-entitled residential development site in a core downtown location. It benefits from superb access to public transportation (BART and Muni) at Powell Street as well as freeways (I-80, US-101 and Interstate 280.) In addition, it is easy walking distance to major employers in Mid Market, SOMA and the North & South Financial Districts.

› Rare, Fully-Entitled Project – The Property, designed by Stanton Architecture, is fully-entitled for 15, one-bedroom residential units. There are extremely high barriers to entry for new development in San Francisco, and the entitlement process in San Francisco is known to be one of the most challenging in the United States. The 475 Minna Site will benefit from continued strong fundamentals in the rental or for-sale market and will allow for developers to deliver new product in the current market cycle.

› Immediate Proximity to the approved 5M Project – Approved by the San Francisco Board of Supervisors in November 2015, Forest City’s 5M Project is a $1B mixed-use development that is bound by Mission, 5th and Howard Streets. Much of the new open space will be located along Minna Street greatly enhancing the area. In addition, the Dempster Printing Building at 447 Minna Street will benefit from over $2.6M in capital improvements and will be transformed into a space for arts programming and cultural events.

› Proximity to World Class Retail and Dining – The Property benefits from a prime SOMA location and has excellent access to the high end shopping at Union Square with world-renowned retailers such as Saks Fifth Avenue, Tiffany, Neiman Marcus, and Brooks Brothers among others as well as to Westfield’s San Francisco Centre which features over 180 stores and 1.25 million square feet of retail.

› Proximity to Key Employers – 475 Minna is easy walking distance to the major employers that are located in SOMA (Pinterest, Airbnb, Atlassian, Dropbox, Lyft), Mid Market (Uber, Square, Zendesk, Twitter, Dolby) and the South Financial District (Salesforce, Google, Amazon.com, LinkedIn).


FULLY ENTITLED DEVELOPMENT SITE15 1 BEDROOM UNITS637 SF AVG UNIT SIZE

20% ON-SITE BMRS

PROJECT AMENITIESAMPLE ROOF DECK

EXPANSIVE CITYSCAPE VIEWS15 BIKE PARKING STALLS

17,886 GROSS SF› 9, 557 TOTAL SALEABLE RESIDENTIAL SF› 8’ 8” TYPICAL SLAB-TO-SLAB HEIGHTS


4 7 5 M I N N A

7

FOREST CITY ’S 5M PROJECT

In November 2015 the San Francisco Board of Supervisors approved the 5M Project after six years of community meetings and public outreach. A joint venture between developer Forest City and the Hearst Corporation, the 5M Project is the largest mixed-use project in Central SOMA.

In its present condition, the existing site is underutilized and consists of approximately 50% parking lots and low-rise buildings. When built, the 5M Project will fundamentally transform the neighborhood and will offer two new residential buildings (688 new units) and one office building (614,000 sf) as well as 55,000 sf of public space and abundant new retail space.

Sources: www.5MProject.com; http://sf-planning.org/5m-project

MARY COURT AT MINNA

NATOMA STREET VIEW EAST TO 5TH STREET

475 MINNA

EXECUTIVE SUMMARY


5M PROJECT H IGHL IGHTS


Vibrant new mixed-use project: With a combination of new office and residential product as well as space dedicated to art programming and cultural events, the 5M Project will activate and radically improve the currently underutilized block bounded by Mission, 5th Street and Howard Streets.

New open space for the SOMA neighborhood: Three large, publicly-accessible open spaces will be privately funded by the project: Mary Court West (14,500 sf); Mary Court East (11,500 sf); and a 23,000 sf open space on the roof of the Chronicle building.

Preservation of historic buildings: The Chronicle Building, with its historic clock tower, will be preserved and activated with a rooftop open space. The Dempster Printing Building, a historic resource, will be preserved and restored. The Camelline Building at 430 Natoma will be retained while the Examiner building will undergo partial renovation.

Significant transportation & pedestrian safety improvements: The project will pay $8 million in Transportation Infrastructure Development Fees (TIDF). Additionally, over $3 million will be dedicated to transportation, with half dedicated to pedestrian safety improvements outside the project area.

Arts, culture and educational opportunities: 12,000 sf of office space will be dedicated to arts, cultural and educational uses. Open space will be programmed to include community arts and cultural events.

475 MINNA

4 7 5 M I N N A

EXECUTIVE SUMMARY9

6TH STREET VIEW EAST TO HOWARD STREET

VIEW SOUTH FROM MINT PLAZA5M PROJECT RENDERINGS

4 7 5 M I N N A

EXECUTIVE SUMMARY11

Hilton

Market Street Place

Mint Plaza

Parc 55Westin St. Francis

Union Square

HOWARD STREET

MISSION STREET

MARKET STREET

Powell StreetCable Car Turnaround

475 MINNA



San Francisco Centre

Marriott Marquis

Mosso

central subway

CENTRA

L SUBWAY LIN

E

FIFTH STREET

InterContinental

UOP Schoolof Dentistry

Moscone Center West

CENTRAL SUBWAY LINE

4 7 5 M I N N A

13

Designed by Stanton Architecture, 475 Minna is an entitled residential development site in the heart of the vibrant SOMA neighborhood with immediate proximity to Forest City’s approved 5M mixed-use project. The 475 Minna project is a nine-story residential development site with a total of 9,557 saleable square feet that features 15 one-bedroom units ranging in size from 601 sf to 648 sf. At the first level, 475 Minna features an ample lobby, a 15-stall bicycle storage room and access to 455 sf of useable space at the rear of the building.

The ninth floor features one residential unit as well as a generous roof deck with cityscape views that serves as additional common open space for the project. Laundry and storage at the building is located on the lower level and is accessed from the first level.

As designed by Stanton Architecture, the Project façade consists of prefinished metal panels and an attractive canopy at the first floor level and a fixed canopy at the roof. The North Elevation features in-swing French doors, Juliette balconies and picture windows. The South Elevation is similar to the North except that it substitutes sliding doors for in-swing doors.

15ONE-BEDROOM RESIDENTIAL UNITS

637AVERAGE SALEABLE UNIT SF

9,557 RESIDENTIAL SALEABLE SF

601 SF – 648 SFUNIT SIZE RANGE

15BIKE STALLS

8’ 8”TYPICAL SLAB-TO-SLAB HEIGHTS

9 PLUS ROOF & BASEMENTNUMBER OF LEVELS

3BMR UNITS

20.0% BMR ALLOCATION

17,886 GROSS SF

PROJECT OVERVIEW

PROJECT OVERVIEW

P R O J E C T O V E R V I E W


EAST ELEVATION

ELEVATIONS

LEVEL 10’-0”

LEVEL 214’-0”

LEVEL 322’-8”

LEVEL 431’-4”

LEVEL 540’-0”

LEVEL 648’-8”

LEVEL 757’-4”

LEVEL 866’-4”

LEVEL 974’-8”

ROOF83’-4”

NORTH ELEVATION

LEVEL 10’-0”

LEVEL 214’-0”

LEVEL 322’-8”

LEVEL 431’-4”

LEVEL 540’-0”

LEVEL 648’-8”

LEVEL 757’-4”

LEVEL 866’-4”

LEVEL 974’-8”

ROOF83’-4”

NEW STREET TREES

CANOPY

PREFINISHED METAL PANELS AT BAYS

JULIETTE BALCONIES

IN-SWING FRENCH DOORS

PREFINISHED METAL PANELS

ROOF DECK

FIXED CANOPY AT ROOF

MINNA STREET

NEW STREET TREES

PREFINISHEDMETAL PANELS

ROOF DECK CANOPY

ROOF DECK

4 7 5 M I N N A

15

SOUTH ELEVATION

WEST ELEVATION

ELEVATIONS

LEVEL 10’-0”

LEVEL 214’-0”

LEVEL 322’-8”

LEVEL 431’-4”

LEVEL 540’-0”

LEVEL 648’-8”

LEVEL 757’-4”

LEVEL 866’-4”

LEVEL 974’-8”

ROOF83’-4”

LEVEL 10’-0”

LEVEL 214’-0”

LEVEL 322’-8”

LEVEL 431’-4”

LEVEL 540’-0”

LEVEL 648’-8”

LEVEL 757’-4”

LEVEL 866’-4”

LEVEL 974’-8”

ROOF83’-4”

MINNA STREET

PREFINISHEDMETAL PANELS

ROOF DECK CANOPY

ROOF DECK

NEW STREET TREES

PICTUREWINDOWS

PREFINISHEDMETAL PANELS AT BAYS

JULIETTE BALCONIES

SLIDINGDOORS

PREFINISHED METAL PANELS

PROJECT OVERVIEW


LEVEL 10’-0”

LEVEL BASEMENT9’-8”

LEVEL 214’-0”

LEVEL 322’-8”

LEVEL 431’-4”

LEVEL 540’-0”

LEVEL 648’-8”

LEVEL 757’-4”

LEVEL 866’-4”

LEVEL 974’-8”

ROOF83’-4”

MINNA STREET

PROJECT CROSS SECTIONS

LONGITUDINAL CROSS SECTION


4 7 5 M I N N A

17 PROJECT OVERVIEW

LEVEL 10’-0”

LEVEL 214’-0”

LEVEL 322’-8”

LEVEL 431’-4”

LEVEL 540’-0”

LEVEL 648’-8”

LEVEL 757’-4”

LEVEL 866’-4”

LEVEL 974’-8”

ROOF83’-4”

PROJECT CROSS SECTIONS

TRANSVERSE SECTION

LEVEL BASEMENT9’-8”

Gross Building Building ResidentialLevel Floor Area (SF) Circulation (SF) Service Area (SF) Amenities (SF) # of units Net SaleableRoof 693 693

9 1,713 542 475 1 1,1718 1,743 545 2 1,1987 1,743 545 2 1,1986 1,743 545 2 1,1985 1,743 545 2 1,1984 1,743 545 2 1,1983 1,743 545 2 1,1982 1,743 545 2 1,1981 2,166 711 186 1,269B 1,113 611 502

Total 17,886 sf 5,679 sf 688 sf 1,744 sf 15 9,557 sf

Avg. Saleable SF 637 sf

BUILD ING AREA SUMMARY



4 7 5 M I N N A

19

BASEMENT

LEVEL 1 FLOOR PLAN

FLOOR PLANS

PROJECT OVERVIEW


ROOF FLOOR PLAN

LEVEL 2-8 FLOOR PLAN

LEVEL 9 FLOOR PLAN


4 7 5 M I N N A

21

SITE OVERVIEW

SITE OVERVIEW

The 475 Minna site is comprised of a single rectangular-shaped parcel. The site has frontage along Minna Street and totals 2,275 sf. There is a month-to-month lease for parking which generates $2,000 per month. Either Landlord or Tenant has the right to terminate the parking lease upon thirty (30) days prior written notice to the other.

APNSquare

FeetFrontageMinna

ParcelDepth Zoning

Height &Bulk

3725-068 2,275 30.33 feet 75 feetC-3-S

DowntownSupport

120-F

SITE SUMMARY

MISSION STR

EET

MINNA STRE

ET

MARY STREET

6TH STREET

NATOMA S

TREET

SITE PLAN

4 7 5 M I N N A

PROJECT OVERVIEW

4 7 5 M I N N A

Hilton

Market Street Place

Mint Plaza

Parc 55Westin St. Francis

Union Square

HOWARD STREET

MISSION STREET

MARKET STREET

Powell StreetCable Car Turnaround

475 MINNA

LOCATION OVERVIEW23

LOCATION HIGHLIGHTS

› Immediately adjacent to Forest City’s approved 5M Project, a transformative mixed-use project estimated to cost $1B.

› Just blocks from the Powell Street BART and Muni station which provides easy access to SFO and Oakland International Airports.

› New development at Market Street Place on Market between Fifth and Sixth Streets will offer 250,000 sf of new retail on six levels and will drive additional traffic to the area.

› Close proximity to major employers in Mid Market, SOMA and the South Financial District.

› Walking distance to San Francisco’s world renowned Union Square shopping and dining district. Union Square offers major department stores such as Saks Fifth Avenue, Neiman Marcus, Barneys and Macy as well as luxury brands such as Louis Vuitton, Gucci, Bulgari and Tiffany & Co.

› Walking distance to Westfield and Forest City’s San Francisco Centre which features Bloomingdale’s and Nordstrom as anchors, a Century Theatres cineplex, and Bristol Farms grocery store.

LOCATION OVERVIEW

L O C A T I O N O V E R V I E W

San Francisco Centre

Marriott Marquis

Mosso

central subway

CENTRA

L SUBWAY LIN

E

FIFTH STREET

InterContinental

UOP Schoolof Dentistry

Moscone Center West

CENTRAL SUBWAY LINE


4 7 5 M I N N A

LOCATION OVERVIEW25

FOREST CITY ’S 5M PROJECT

In November 2015 the San Francisco Board of Supervisors approved the 5M Project after six years of community meetings and public outreach. A joint venture between developer Forest City and the Hearst Corporation, the 5M Project is the largest mixed-use project in Central SOMA.

In its present condition, the existing site is underutilized and consists of approximately 50% parking lots and low-rise buildings. When built, the 5M Project will fundamentally transform the neighborhood and will offer two new residential buildings (688 new units) and one office building (614,000 sf) as well as 55,000 sf of public space and abundant new retail space.

Sources: www.5MProject.com; http://sf-planning.org/5m-project

CHRONICLE BUILDING ROOFTOP

CHRONICLE BUILDING ROOFTOP


5M PROJECT RENDERINGS

L O C A T I O N O V E R V I E W

5TH STREET FACING SOUTH TOWARDS MISSION

MARY COURT AT MINNA

4 7 5 M I N N A

27

MARKET OVERVIEW

Aerial By: Todd Quam

RESIDENTIAL MARKET OVERVIEW

The San Francisco market is one of the most desirable and supply-constrained markets in the nation, and as a result it boasts the highest median residential rents in the nation. Market vacancy is currently in the low 3% range for apartments.

The tech sector has continued to fuel job growth, and the current unemployment rate for the City of San Francisco is at 3.4%, near its lowest rate in over 15 years. These strong market fundamentals have all helped San Francisco earn its current title as America’s most expensive city.

SOMA is one of the most expensive submarkets in all of San Francisco, and the median one-bedroom rent for SOMA is currently $3,790 per month. Because of SOMA’s proximity to tech employers and transportation, SOMA rents now rival more established neighborhoods such as Russian Hill ($3,850 per month) and Pacific Heights ($3,800 per month.)

Apartment› Highest median rent in the nation at $3,590 for one

bedrooms (ahead of NYC, Boston, San Jose and Washington, DC)

› San Francisco has among the highest levels of renters in the nation at over 64%

› Perennially constrained supply with very limited new delivery

› Occupancy marketwide near 97%

Condominium› Average pricing is $1,263 psf for new construction› New condo supply remains limited with only 633

units available, a 4% decrease year-over-year› Condo resales are strong with very limited supply

(approximately 1.5 months of inventory)› Historically low interest rates

Sources: Marcus & Millichap; Zumper; The Mark Company; www.bayareacensus.ca.gov

MARKET OVERVIEW

M A R K E T O V E R V I E W


475 MINNA

4 7 5 M I N N A

29

APARTMENT COMPARABLES

Property InformationAddress 77 BluxomeProperty Type Class A ApartmentsStyle Mid-RiseNumber of Units 102Avg. Unit Size 233 SFYear Built 2008Stories 8Developer Charles Breidinger

Rental InfoAsking Rent/Unit $2,378 Asking Rent/SF $10.21

Property InformationAddress 973 MarketProperty Type Class B ApartmentsStyle Mid-RiseNumber of Units 67Avg. Unit Size 614 SFYear Built 2014Stories 7Developer Raintree Partners

Rental InfoAsking Rent/Unit $3,640 Asking Rent/SF $5.93

77 BLUXOME

973 MARKET - THE WILSON

Property OverviewLocated in the heart of SOMA, 77 Bluxome offers a 24 hour fitness center, a rooftop deck with 360 degree views of San Francisco, valet dry cleaning and a gourmet community kitchen. Apartment amenities include private balconies, stainless steel dishwashers and wood flooring throughout.

Property OverviewThe Wilson is a 67 unit apartment building that was built in 1904 and renovated and converted to apartments in 2014. It is located in the heart of Mid Market between 5th and 6th Streets.

Unit Mix Avg SF Asking Rent Rent/SFAll Studios 233 $2,378 $10.21Averages: 233 $2,378 $10.21

Unit Mix Avg SF Asking Rent Rent/SF1/1 531 $3,600 $6.781/1 564 $3,600 $6.381/1 659 $3,400 $5.16Averages: 614 $3,640 $5.93

MARKET OVERVIEW


Property InformationAddress 900 FolsomProperty Type Class A ApartmentsStyle Mid-RiseNumber of Units 463 (394 Market, 69 BMR)Avg. Unit Size 730 SFYear Built 2014Stories 8Developer AGI Avant

Rental Info*Asking Rent/Unit $3,632 Asking Rent/SF $4.97

MOSSO

Property OverviewLocated on Folsom between 5th and 6th Streets, Mosso is a LEED certified apartment building featuring 463 modern residences. Select amenities include a fitness center, a business center and a BBQ/Picnic area.

Unit Mix Avg SF Asking Rent Rent/SF1/1 492 $3,252 $6.611/1 602 $4,251 $7.061/1 625 $3,445 $5.51Averages: * 730 $3,632 $4.97

Property InformationAddress 21 Clarence PlaceProperty Type Class A ApartmentsStyle Mid-RiseNumber of Units 94 (75 Market, 19 BMR)Avg. Unit Size 703 SFYear Built 2012Stories 6Developer Martin Building Company

Rental Info*Asking Rent/Unit $4,246 Asking Rent/SF $6.04

ARC LIGHT

Property OverviewLocated on Townsend Street, Arc Light features 94 modern residential rental units/lofts with a restaurant. Landscaped roof decks offer year-round outdoor entertaining with grilling, lounge seating, custom stone and tile spa, and city views.

Unit Mix Avg SF Asking Rent Rent/SF1/1 595 $3,170 $5.331/1 612 $3,745 $6.121/1 643 $3,525 $5.48Averages: * 703 $4,246 $6.04

* Averages exclude BMR units

* Averages exclude BMR units


4 7 5 M I N N A

31

CONDOMIN IUM COMPARABLES

Property InformationAddress 829 Folsom StreetNumber of Units 69Year Delivered 2010Developer Forma LLC

Sales Status2H 2015 Sales 5 units sold% of total 7.2%Avg. Unit Size 652 SFAvg. List (PSF) $1,213 Avg. Sale (PSF) $1,265 Sale v. List 4.3% over listNotes 100% sold out

829 FOLSOM

Property OverviewLocated at 4th & Folsom, 829 Folsom is a nine-story contemporary tower of studio, one-, two- and three-bedroom residences. The entrance lobby showcases Italian marble, exotic wood finishes and custom designer furnishings and fixtures.

Property InformationAddress 555 Fourth StreetNumber of Units 300Year Delivered 2005Developer Cassidy Construction

Sales StatusLast 6 Months Sales 6 units sold% of total 2.0%Avg. Unit Size 877 SFAvg. Sale (PSF) $1,095 Sale v. List N/ANotes All sales reported were resales as opposed to new deliveries.

THE PALMS

Property OverviewLocated on the corner of Brannan & Fourth Streets, The Palms offers easy access to some of San Francisco’s finest restaurants, shopping, art galleries, entertainment options and public transportation. Amenities include a concierge, doorman, business center, fi tness center, 20-seat theatre, garage parking and private “Palms Park.” The homes features dramatic City, downtown and Bay Bridge views, balconies, stainless steel Bosch appliances and walnut hardwood flooring. Floor plans are available in junior one-, one-, two- and three-bedroom configurations.

Source: CoStar, The Concord Group, The Mark CompanyMARKET OVERVIEW


Property OverviewLocated in San Francisco’s desirable South Beach neighborhood, Seventy2 Townsend offers 74 residences in one- and two-bedroom configurations. A variety of high-end finishes and appliances are offered and can be customized based on each homebuyer’s preference. Amenities include a well-appointed second-floor lounge and spacious outdoor decks.

Property InformationAddress 750 2nd StNumber of Units 14Year Delivered 2012Developer Manchester Capital Management

Sales Status2H 2015 Sales 1 unit sold% of total 7.1%Avg. Unit Size 1,960 SFAvg. List (PSF) $1,403 Avg. Sale (PSF) $1,403 Sale v. List N/ANotes No units currently available

750 2ND ST

Property OverviewTwo and three bedroom units with outdoor decks and private elevator access. Commercial space located on ground floor. On-site parking garage available. This eight story, mid-rise building is just steps from AT&T Park. Walking distance to Whole Foods Market, Safeway, restaurants and bars. Easy access to BART.

Property InformationAddress 72 TownsendNumber of Units 74Year Delivered 2015Developer KB Home Signature

Sales StatusLast 6 Months Sales 28 units sold% of total 37.8%Avg. Unit Size 922 SFAvg. List (PSF) $1,272 - $1,354Avg. Sale (PSF) $1,343 Sale v. List 2.3% over list

Notes Starting List Price for one-bedrooms ranged from $1,310 - $1,354 psf.

72 TOWNSEND


4 7 5 M I N N A

33

15 19

18 1714

13

1112

4 162

105

31

6 97 8

MARKET OVERVIEW

475 MINNA


NEARBY RESIDENTIAL DEVELOPMENTS

30 Van NessDeveloper: TBDUnits: 600 unitsStatus: Pending

1

100 Van NessDeveloper: Emerald FundUnits: 400 unitsStatus: Completed

2

150 Van NessDeveloper: Emerald FundUnits: 420 unitsStatus: Approved

3

101 Polk - The CivicDeveloper: Emerald FundUnits: 162 unitsStatus: Under Construction

4

1 Polk - ArgentaDeveloper: Behringer HarvardUnits: 179 unitsStatus: Completed

5

One Van NessDeveloper: Build Inc.Units: 308 unitsStatus: Planned

6

1554 MarketDeveloper: Trumark UrbanUnits: 109 unitsStatus: Planned

7

10 South Van NessDeveloper: Crescent HeightsUnits: 767 unitsStatus: Planned

8

1500 MissionDeveloper: RelatedUnits: 565 unitsStatus: Planned

9

1400 MissionDeveloper: Tishman SpeyerUnits: 190 unitsStatus: Completed

10

55 9th - AVADeveloper: Avalon BayUnits: 273 unitsStatus: Completed

11

1401 Market - NEMADeveloper: Crescent HeightsUnits: 754 unitsStatus: Completed

12

1188 Mission - Trinity Place Phase IIDeveloper: SangiacomoUnits: 541 unitsStatus: Under Construction

13

1066 MarketDeveloper: ShorensteinUnits: 301 unitsStatus: Planned

14

950 MarketDeveloper: Group IUnits: 309 unitsStatus: Planned

15

1321 Mission - The PanoramicDeveloper: Panoramic InterestsUnits: 160 unitsStatus: Completed

16

1075 MarketDeveloper: Encore HousingUnits: 100 unitsStatus: Planned

17

1028 Market StreetDeveloper: TidewaterUnits: 186 unitsStatus: Planned

18

973 Market - The WilsonDeveloper: RaintreeUnits: 67 unitsStatus: Completed

19


4 7 5 M I N N A

MARKET OVERVIEW35



INVESTMENT CONTACT






4 7 5 M I N N A S O M A / S A N F R A N C I S C O

FULLY-ENTITLED SOMA DEVELOPMENT OPPORTUNITY


INVESTMENT CONTACT





fully-entitled soma development opportunity › d2 › h12qxomoctzmxwcoh5...475 minna 5 executive...

Documents