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December 16, 2021

SAN FRANCISCO, Dec. 16, 2021 – Hamilton Zanze (HZ) & Graham Street Realty (GSR), two affiliated Bay-Area-based national real estate investment firms and Davidson Kempner Capital Management (Davidson Kempner), a New York-based investment management firm, have closed on the acquisition of a 60-property portfolio spread across Marin and Sonoma counties in California. The properties comprise more than 1.4 million square feet of commercial and multifamily space and were acquired for a total purchase price of $436.5 million.

The diverse portfolio’s acquisition closed on December 15th. It was transacted through the Federal Bankruptcy Court, where the properties have been held since late 2020. The group was named the winning bidder after the court’s open bidding process was held in September.

Due to the firms’ expertise in the ownership and successful management of both multifamily (HZ) and commercial real estate (GSR), the group was uniquely positioned to absorb the large, multi-faceted portfolio amongst competing bidders. The properties range in size from 3,500 square feet up to 85,000 square feet, encompassing a total of 935 residential units and approximately 680,000 square feet of commercial space.

“We are enthusiastic about the opportunity to bring these properties into our portfolios and deliver successful investment results for our investing partners,” said David Messing, Managing Principal of Graham Street Realty. Ashlee Cabeal, Chief Financial Officer of Hamilton Zanze added, “We look forward to investing over $50 million of capital into these properties, which are located in our own communities.” Many HZ employees and executives live in Marin County, and most of the multifamily assets represent critical workforce housing, which will receive over half of the projected capital investment to provide safe and appealing housing to households of all income levels.

The operation of the 60 properties will be split between affiliated property management firms Mission Rock Residential, overseeing the multifamily assets, and Paramount Property Company, managing the commercial office buildings. The properties were previously owned by Professional Financial Investors.

The Hamilton Zanze team’s personal and professional roots have been based in the Northern California real estate community, with principals Mark Hamilton, Tony Zanze and Kurt Houtkooper all beginning their real estate careers in the region more than 30 years ago. Throughout the firm’s growth and expansion across the country, the Bay Area has remained the organization’s headquarters since it was established in 2001.

“Closing out Hamilton Zanze’s 20th year in operation with this exciting acquisition right here in our hometown has been momentous for us,” said Kurt Houtkooper, the company’s Chief Investment Officer and President. “We started here and have grown here, and we are looking forward to the immediate growth opportunity the addition of this portfolio will bring to our teams’ collective work in the Western region.”

In a time where many organizations have reengaged with their local marketplaces as a result of the COVID-19 pandemic, HZ and GSR anticipate this portfolio acquisition will provide a strengthening of their local presence in the Bay Area. GSR already owned 5 commercial office properties in the Bay Area before the closing of this transaction, and further HZ investment is strategically planned in the region in the years to come as well.

A complete list of property addresses is available upon request.

May 12, 2021

A joint venture between DPW Real Estate Investments and TRA Investments has come together to acquire the 40,000 square foot mixed-use building in San Francisco located at 2001 Van Ness Avenue for $12.15 million (around $304 per square foot), according to information provided by the new ownership.

The future plans for the property include over $2 million worth of capital expenditure projects at the property. The improvements made to the property will include a complete face lift on the building exterior, a major redesign of the 3rd and 4th floors to optimize the use of the space, modernization of the common areas to improve access and egress and enhanced mechanical systems, lighting and controls to improve energy efficiency, aesthetics and air quality.

The property and construction manager on the renovation will be overseen by San Francisco-based Paramount Property Company and its president Christian Diggs.

Read the full story at The Registry.

July 21, 2020

PG&E announced this Summer that the company will relocate its headquarters to Oakland, just two blocks from our own headquarters at 1904 Franklin. After 115 years in San Francisco, the company will relocation will begin in 2022. This announcement is a major sign of confidence in Oakland, and also an indicator that commercial real estate activity may be slowly resuming in the wake of the coronavirus pandemic.

Read the full story at SF Chronicle

June 5, 2020

At Paramount Property Company, we reject racism, inequality, hatred, and cruelty in all its forms.

As an organization, we are committed to supporting the success of this important racial justice movement. We are listening and we will continue to be accountable in managing office properties in ways that reflect our nation and the best of its ideals — diversity, equity, inclusion, and cultural competence.

We are committed to doing our part to realize these overdue demands for change — by listening to our teams, our partners, those who are the most vulnerable and disenfranchised, and those struggling with the most grief. We will listen not only for ourselves and in pursuit of progress, but most importantly, out of respect for those whose voices have been silenced.