Done Deals: HFF arranges equity for 1629 Market Street in San Francisco

Friday, April 19, 2019

HFF arranges equity for 1629 Market Street in San Francisco

Rendering by David Baker Architects
1629 Market Street Apartments, San Francisco, CA

Scott Bales

SAN FRANCISCO, CA –– HFF announces it has arranged joint venture equity for the development of 1629 Market Street, a fully entitled, 420-unit multi-housing project in San Francisco, California.

Working on behalf of the developer, Strada Investment Group, HFF arranged a joint venture equity partnership with an affiliate of Stockbridge Capital Group for the approximately $320 million project.

1629 Market Street will encompass 420 units averaging 732 square feet along with nearly 9,000 square feet of retail situated within three mid-rise buildings that will share a sub-grade parking garage.

Charles Halladay

The project will be constructed on 1.7 acres at the intersection of Van Ness Avenue and Market Street in San Francisco’s Mid-Market technology hub.

The 24/7 location provides access to more than 400 restaurants and bars within an eight-block radius along with immediate access to public transportation options and approximately 30 percent of the city’s largest technology-based companies, all of which has garnered the site a Walk Score® of 99. The project is due for completion in mid-2021.

Jordan Angel

The HFF equity placement team representing the developer included managing director Scott Bales along with senior managing director Charles Halladay, managing director Jordan Angel, director Peter Yorck and analysts Eric Bet and Nolan Moore.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

About Strada Investment Group

Jesse Blout

Headquartered in San Francisco, Strada is a vertically integrated real estate investment company with a proven track record in acquisition, development and advisory services.

The firm was founded in 2010 by principals Jesse Blout, Michael Cohen and Scott Stafford, with a unique mix of public and private sector real estate experience.

Supported by a team of real estate professionals with expertise in research, acquisitions, asset management, and construction and development, Strada has managed more than $1 billion of real estate assets with top-tier institutional capital partners, and currently has more than two million square feet in the development pipeline.

Michael Cohen

About Stockbridge Capital Group

Stockbridge Capital Group (http://stockbridge.com) is a real estate investment management firm headquartered in San Francisco, California, with offices in New York, Chicago and Atlanta.

The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of December 31, 2018, the firm’s total assets under management totaled approximately $13.5 billion.