Canadian pension fund acquires San Francisco residential for $200m
Ivanhoé Cambridge and Veritas have acquired 16 multifamily properties in San Francisco for approximately $200 million.
“Our investment strategy continues to focus on owning and operating multifamily housing that will be in demand now and in the long term,” says Yat-Pang Au, founder and CEO of Veritas. “The San Francisco Bay Area’s ecosystem of technology and innovation companies, its university and education centers, and its quality of life create a strong magnet for today’s mobile workforce, which is ultimately our resident base.”
According to Real Capital Analytics, the apartment portfolio comprises the Ritz at 300 Buchanan St., Rex Arms at 990 Geary St., 455 Hyde St., 1035 Sutter St., 610 Leavenworth St., 1405 Franklin St., 345 Fulton St., 350 Judah St., 969 Bush St., 210–218 Church St., 1501–1509 Haight St., 11 Dolores St., 828 Jones St., 1250 Bush St. and 1760 Golden Gate Ave.