Acquisition of The Grove at Mission Bay

Deal value: $153,000,000

Acquisition of a mixed-use urban village in San Francisco, CA, with 120,000 SF retail and 400 residential units, emphasizing walkability and entertainment.

The acquisition targets a high-quality, mixed-use urban asset in San Francisco’s Mission Bay, capitalizing on strong demand for walkable, amenity-rich environments. The core motivation is to secure stable, long-term cash flows from both retail and residential components in a supply-constrained, high-growth urban submarket. The timing reflects confidence in urban recovery post-pandemic, a belief in San Francisco’s enduring appeal, and the opportunity to acquire scale in a premier location at a potentially attractive basis.