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Articles by Andrew Nelson

505 Brannan Street, rendering courtesy Heller Manus Architects

Singaporean REIT Purchases 505 Brannan Street & 510 Townsend Street

Singapore’s Ascendas Real Estate Investment Trust, or Ascendas REIT, recently purchased two buildings in San Francisco for $572 million. Alexandria Real Estate Equities (ARE) and TMG Partners are on the other end of the move, parting with their partnered ownership of 505 Brannan Street and 510 Townsend Street in the SoMa neighborhood. This transaction follows the pair’s recent success in selling the 945 Market Street mall to Ikea. The deal marks Ascendas’ introduction to the Bay Area real estate market.

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469 Stevenson Street, rendering by Solomon Cordwell Buenz

Renderings Revealed for 27-story 469 Stevenson Street, SoMa, San Francisco

Plans for a new twenty seven-story development at 469 Stevenson Street have recently been brought to the public’s attention by an informational presentation to San Francisco’s Planning Commission. The tower will rise 274 feet high in SoMa. Inside, over half a million square feet will bring 495 new houses to market. San Francisco-based BUILD is responsible for the development.

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995 East Santa Clara Street, development by First Community Housing designed by David Bark Architects via the East Bay Times

995 East Santa Clara Street Purchased by First Community Housing, Roosevelt Park, San Jose

995 East Santa Clara Street has been purchased by the Bay Area-based First Community Housing residential developer for $5.5 million. The East Bay Times reports that the purchase brings FCH a step closer to realizing a 125-unit affordable housing structure on an 18,300 square foot parcel near downtown San Jose. The project benefits from San Jose’s General Plan 2040 Urban Village zoning.

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