SAN FRANCISCO—CIM Group has purchased 330 Townsend in San Francisco for an undisclosed sun. The 98 percent-leased, 60,000-sq.-ft. office building is located in the South of Market District, which has one of the lowest office vacancy rates in the city.

Through the West SoMa Community Plan, 330 Townsend is zoned for additional development. CIM has not said yet whether it will add to the building.

This purchase is one of several recent buys for CIM, which has been in the Greater Bay Area since 2001. The real estate and infrastructure investment firm also recently purchased 260 Townsend, a 100 percent occupied, class-A office building, located one block from 330 Townsend. Additionally, CIM purchased 211 Main St., also a fully-occupied, class-A building just a couple blocks from the other buys.

In total CIM owns 2.7 million sq. ft. of class-A office property in the Bay Area as well as two hotels.

Article source: http://nreionline.com/investment/cim-expands-bay-area-office-holdings-three-recent-purchases

SAN FRANCISCO—CIM Group has purchased 330 Townsend in San Francisco for an undisclosed sun. The 98 percent-leased, 60,000-sq.-ft. office building is located in the South of Market District, which has one of the lowest office vacancy rates in the city.

Through the West SoMa Community Plan, 330 Townsend is zoned for additional development. CIM has not said yet whether it will add to the building.

This purchase is one of several recent buys for CIM, which has been in the Greater Bay Area since 2001. The real estate and infrastructure investment firm also recently purchased 260 Townsend, a 100 percent occupied, class-A office building, located one block from 330 Townsend. Additionally, CIM purchased 211 Main St., also a fully-occupied, class-A building just a couple blocks from the other buys.

In total CIM owns 2.7 million sq. ft. of class-A office property in the Bay Area as well as two hotels.

Article source: http://nreionline.com/san-francisco/cim-expands-bay-area-office-holdings-3-recent-purchases

CIM acquired the apartment portfolio through a deed in lieu of foreclosure transaction. The properties span the geographic and demographic diversity of the City of San Francisco and, as is typical of this market, have high occupancies. CIM has applied its investment and management model to enhance the properties and increase the value of the portfolio. The San Francisco Bay Area is one of the strongest commercial real estate markets in the country and a top target for investors.

CIM identified the Greater Bay Area as possessing the attributes that fit its investment model, which focuses on established and emerging urban areas with solid infrastructure and transportation networks. CIM Group has investments in a variety of commercial properties in the Bay Area including approximately 1.7 million square feet of office properties and two hotels in Oakland.

About CIM Group

CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com

Article source: http://www.heraldonline.com/2012/11/14/4415342/cim-group-sells-10-properties.html

Los Gatos, California (PRWEB) June 26, 2012

Real estate investment firm Pertria of Los Gatos, California, announces their Founder and former President, Helen Pastorino, will undertake a new role as CEO of the firm.

Harry Murray, former Vice President of J. Rockcliff Realtors and Manager of the J. Rockcliff Danville office will fill Pastorino’s role as president, playing an instrumental role in expanding the company while running internal operations. This will leave Pastorino with more time to focus on business development, strategic affiliations and Pertria’s vision for the future.

Regarding the change in her title, Pastorino said: “It is with great pride and pleasure that I transfer the Presidency of this firm to Harry Murray, a very well respected professional within our community. The result of strategic vision and work well done, our growth now demands this ‘rite of passage’ and I look forward to my new role, its challenges, and the continued growth it will bring.”

Since 1975, Pastorino has had major impact on the world of real estate and, consequently, the lives of millions of people throughout Silicon Valley and the San Francisco Bay Area. In 2004, Pastorino founded Pertria, representing residential and commercial real estate sales, investment analysis and property management strategically aligned with like-minded financial professionals including certified financial planners, tax advisors, insurance specialists and specialized legal counsel.

Pertria recently expanded into the former Zynga Los Gatos office space and is now located at 720 University Avenue, Suite 100, in Los Gatos, California. For more information on Pertria and Helen Pastorino, please visit http://www.pertria.com or call 408-357-7777.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/6/prweb9638898.htm

Article source: http://www.sfgate.com/business/prweb/article/Pertria-Real-Estate-Investment-Firm-Announces-3662498.php

Los Gatos, California (PRWEB) March 29, 2012

Real estate investment firm Pertria of Los Gatos, California, announces the appointment of Harry Murray as President effective February 7, 2012.

Murray, former Vice President of J. Rockcliff Realtors and Manager of the J. Rockcliff Danville office, will play an instrumental role in expanding the company while managing its internal operations. Helen Pastorino, Pertria’s Founder and CEO, will focus on business development, strategic affiliations and Pertria’s vision for the future.

Regarding the new position, Mr. Murray said: “It is rare to receive a second opportunity to work with someone who has maintained the level of integrity and professionalism that Helen has throughout her career and has played such an influential role in the real estate industry. I look forward to working with the exceptional team of professionals she has aligned to produce this highly effective model integrating financial, tax, insurance, legal and real estate services”.

Murray, a San Francisco Bay Area real estate executive of exceptional notoriety, has worked more than 40 years in real estate with over thirty years of holding positions in executive management. Pastorino and Murray worked together at Fox and Carskadon and then went on to build Alain Pinel Realtors into the successful business it is today.

“Harry has built and maintained an astonishing career”, says Pastorino. “He is a true statesman who engages people with the utmost respect, understands the value of relationships and is impeccable in all his dealings. I am incredibly fortunate that he has accepted this position and delight in the idea that we will be working together again”.

As Vice President of J. Rockcliff Realtors, Murray played a pivotal role in the company’s growth. Before joining Rockcliff, he managed the Fox and Carskadon Los Gatos office for over ten years, acted as the Broker of Record for Alain Pinel Realtors for nearly 17 years and was Vice President and Directing Officer at Intero Real Estate Services.

In 2004, Helen Pastorino founded Pertria, representing residential and commercial real estate sales, investment analysis and property management strategically aligned with like-minded financial professionals including certified financial planners, tax advisors, insurance specialists and specialized legal counsel. Pertria recently expanded into the former Zynga Los Gatos office space and is now located at 720 University Avenue, Suite 100, in Los Gatos, California. For more information on Pertria and Helen Pastorino, please visit www.pertria.com or call 408-357-7777.

For the original version on PRWeb visit: www.prweb.com/releases/prweb2012/3/prweb9344172.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/03/29/prweb9344172.DTL

The Frys.com Open Tournament will be held October 3-9, 2011 at CordeValle in San Martin, California. Proceeds from the tournament will benefit several charities like the American Institute of Mathematics, the American Cancer Society and The First Tee of San Jose.

“I am pleased to be involved in this tournament supporting such causes like The First Tee of San Jose,” said Pastorino. “I have become passionate about the game of golf over the past few years and think it is a gift that they work to make the game of golf accessible to all youth, regardless of their background.”

This will be Pastorino’s first time volunteering for the tournament, though she says it will not be her last. Her role as Marshall of hole #6 will be to ensure that the observers are respectful, quiet, and honor the rules of golf.

Pastorino’s passion for golf began only a few years ago after she had turned down several offers to participate in private tournaments, and decided she wanted to learn how to play the game after all.

“On July 15, 2009 I asked my father to teach me to play for a tournament in October 2009 and he was quite apprehensive,” she said. “All I wanted was to not hurt anyone, and not embarrass myself. We began working together for a few hours every night. Not knowing if I would enjoy this game of golf, I opted to use my fathers Ping clubs which were over 30 years old. Well, I played that tournament and have not stopped playing since. Although I have changed the grips, I have yet to change my clubs; they are now my tradition, my history and they have sentimental value.”

In 2004 Pastorino founded Pertria, a firm representing residential and commercial real estate sales, investment analysis and property management strategically aligned with like-minded financial professionals including certified financial planners, tax advisers, insurance specialists and specialized legal counsel collectively providing clients with well-grounded strategies focused on maximizing opportunities and mitigating risk.

Firm Facts: Licensed real estate brokers who have passed the Series 65 exam; Experienced in charitable remainder trusts; IRC§ 121, REO and short sales; divorce; probate and relocation; reverse exchanges, and IRC§1031-1033; Real property management portfolio exceeds $202 million in value; Real property management portfolio rent revenues of $9.2 million annually; Integration of technology providing increased capacity to efficiently process client; financial reporting and resident management; Establishment of rigorous 26 week Real Estate Investment Advisory education course featuring speakers from disciplines ranging from Legal Counsel, Financial Services, Insurance, Commercial, Exchange Coordinators, TIC, Trusts, IRA.

For more information on Pertria and Helen Pastorino, please visit www.pertria.com

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Article source: http://www.pr.com/press-release/359659

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1845 Franklin St.

(Mark Your Calendars: RealShare Apartments 2011, October 20 in Los Angeles).

SAN FRANCISCO-San Francisco-based private equity real estate investment firm, Tribeca Cos., has sold nine properties comprising 155 apartment units and one retail space in San Francisco and Burlingame. The properties are part of a 12-property portfolio that Tribeca acquired opportunistically through a loan purchase from lender UBS on Dec. 30, 2009 and immediately acquired the fee title through foreclosure of the properties previously owned by the Lembi Group.

The properties are located in areas including Pacific Heights, Cow Hollow, and lower Nob Hill in San Francisco, as well as one in downtown Burlingame just south of San Francisco. The addresses are: 1671 Lombard St., 2642 Gough St., 2648 Gough St., 2654 Gough St., 1845 Franklin St., 2011 Sacramento St., 2380 California St., 621 Taylor St., and 255 El Camino Real in Burlingame.

The properties were sold to a series of single-purpose entities of the Prado Group of San Francisco, a private real estate investment management and development firm. The purchase price was not disclosed, however Tribeca, through an owned affiliate partnership entity Sky Pacific Holdings II LLC, acquired the 12-building Lembi portfolio loans in December 2009 for approximately $31 million, and after acquiring the title, subsequently sold three assets in 2010. 

The transaction was financed by Tribeca Holdings and California Property Funding, a San Francisco-based financial services and investment firm.

The aggregate sale price of those first three properties plus the nine properties now closing came to a total in excess of $40 million. Tribeca realized an aggregate return in excess of 35% from its undisclosed original equity investment, according to a prepared statement. “The sale of the remaining properties reflects the healthy return of the San Francisco and Bay Area rental property market from the depths of the recession of the past two years,” says the statement. “Prado’s acquisition comes at a time when San Francisco occupancies have tightened considerably and rental demand is strong, with little to no new competing product opening in the near term.”

According to William Faidi, CEO of Tribeca, “Following the original acquisition in a complex foreclosure process, Tribeca began our value-enhancement program of carefully managing and maximizing values, to prepare the properties for eventual sale. The sale to Prado Group enabled us to quickly achieve our investment objective well ahead of our initial projected time-horizon. Tribeca is continuing on its path of investment in opportunistic real estate, focusing on retail and apartment properties in US markets”.

The acquisition marks the second Lembi Group apartment portfolio acquisition by the Prado Group in the last nine months. In September 2010, Prado Group acquired four buildings totaling 250 units that had been taken back by lender UBS. “The Tribeca acquisition is exactly the type of high quality apartment assets we are focused on acquiring in the infill neighborhoods of San Francisco and the Bay Area,” says Craig Greenwood, a principal at Prado Group. “The recovery has commenced and San Francisco is poised to outperform the nation based on its strong economic base, creative class and little to no new supply.” Prado Group was represented by Toby Costello and Michael Thomas of Wheelhouse Brokerage.

Categories:

West,
Multifamily,
Acquisitions/Dispositions,
San Francisco

Natalie Dolce Natalie Dolce, editor of the West Coast region for GlobeSt.com and Real Estate Forum, is responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, Natalie was Northeast bureau chief, covering New York City for GlobeSt.com. Dolce?s background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats Arthur Frommer?s Budget Travel magazine, FashionLedge.com, Co-Ed magazine, and has also freelanced for a number of publications including MSNBC.com and Museums New York magazine. Contact Natalie Dolce.

Article source: http://www.globest.com/news/1939_1939/sanfrancisco/311318-1.html