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Supervisors Clear Way for Talks on Warriors’ Waterfront Plan

Supervisors Clear Way for Talks on Warriors’ Waterfront Plan

By Alex Girda, Associate Editor The city has taken a giant leap forward toward luring a new major-league sports franchise now that officials have approved  negotiations with the National Basketball Association’s Golden State Warriors. The San Francisco Examiner reports that the city’s Board of Supervisors opted to eliminate the city’s…

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Kennedy Wilson Takes Upscale Hayward Complex in $87M Deal

Kennedy Wilson Takes Upscale Hayward Complex in $87M Deal

By Alex Girda, Associate Editor Kennedy Wilson has recently completed the $86.5 million acquisition of the Waterford, a 544-unit complex in Hayward. Most of the financing–$68.1 million–was secured through Freddie Mac. Terms are for a 10-year fixed rate of 3.69 percent. The Beverly Hills, Calif.-based firm described the deal as…

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Brentwood’s $61M Civic Upgrade Makes its Public Debut

Brentwood’s $61M Civic Upgrade Makes its Public Debut

By Alex Girda, Associate Editor In a bid to create a more vibrant image and revitalize its core, Brentwood has just wrapped a $60.8 million investment in its public buildings and spaces. Located in eastern Contra Costa County, the city of 51,000 marked the official opening of the multi-faceted project…

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Fairmont Sells to Oaktree and Woodbridge JV for $200M

Fairmont Sells to Oaktree and Woodbridge JV for $200M

  By Alex Girda, Associate Editor The Fairmont Hotel, a Beaux Arts landmark that has hosted presidents, foreign heads of state and celebrites since its 1907 debut, has come under the ownership of Oaktree Capital Management L.P. and Michael Rosenfeld’s Woodbridge Capital Partners L.L.C. The joint venture acquired the 591-key property…

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City Fund Could Yield $50M Yearly for Affordable Housing

City Fund Could Yield $50M Yearly for Affordable Housing

By Alex Girda, Associate Editor Mayor Edwin Lee recently announced that the San Francisco is taking steps to revitalize its affordable housing market. The proposed Housing Trust Fund will generate between $20 million and $50 million annually to jump-start development of affordable housing, the Huffington Post reports. The effort will…

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Menlo Park Pledges Affordable Housing to Settle Lawsuit

Menlo Park Pledges Affordable Housing to Settle Lawsuit

By Alex Girda, Associate Editor About 1,000 residential units will be built in Menlo Park to settle a lawsuit over the pace of affordable housing development in its borders. Three Bay Area nonprofit groups took the city to court in order to ban the city from issuing zoning changes or…

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Salesforce’s 80,000 SF Lease May Not Be its Last of 2012

Salesforce’s 80,000 SF Lease May Not Be its Last of 2012

By Alex Girda, Associate Editor When it announced plans for a 14-acre headquarters campus in Mission Bay, a move that followed a 400,000 square-foot lease at 50 Fremont St., Salesforce immediately became the talk of the  the local real estate market. But once the software company surprised the city by announcing that it…

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Matteson Buys Upscale Complex in Novato for $67M

Matteson Buys Upscale Complex in Novato for $67M

By Alex Girda, Associate Editor In a $67 million deal, San Mateo-based Matteson Cos. acquired the Millworks, a 124-unit upscale apartment complex that includes a 39,119-square-foot ground floor Whole Foods Market located in Novato’s Old Town district. The property includes 420,882 square feet ofspace over 124 units, as well as…

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Cordish, Giants Detail $1.6B Waterfront Plan Near AT&T Park

Cordish, Giants Detail $1.6B Waterfront Plan Near AT&T Park

By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor A 27-acre parcel near AT&T Park is the proposed site of a sports-anchored $1.6 billion  waterfront plan  that would be among the nation’s largest urban mixed-use developments. The Cordish Cos. is teaming up with the San Francisco Giants on the 3.5 millon-square-foot office,…

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Old Mervyns’ Site in Hayward Eyed for Multi-Family Project

Old Mervyns’ Site in Hayward Eyed for Multi-Family Project

By Alex Girda, Associate Editor A long-vacant department store in Hayward is on the radar of a developer that wants to transform its site into an upscale residential property, but the plan could be in for some choppy sailing. Closed since 2008, the 335,000-square-foot Mervyns on Foothill Blvd. would be…

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Starwood Hotels and Partners Detail Lofty Plans For Cupertino

Starwood Hotels and Partners Detail Lofty Plans For Cupertino

By Alex Girda, Associate Editor In a move that Starwood Hotels & Resorts Inc. hopes will capture the Silicon Valley’s young, hip demographic, the company is bringing its Aloft select-service brand to Cupertino. Scheduled for an early 2013 opening, the 123-key hotel will be the third Aloft in the Golden State.…

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Blackstone Pays $70M for Majority Stake in Parc 55

Blackstone Pays $70M for Majority Stake in Parc 55

By Alex Girda, Associate Editor Parc 55 is the latest Bay Area hotel to attract institutional investors to one of the nation’s top hospitality markets. Last month, the Blackstone Group L.P. paid about $70 million for a 75 percent stake in the 1,011-key property located in Downtown San Francisco, Bloomberg News reported.…

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