(SAN FRANCISCO) – Hines, the international real estate firm, in partnership with Invesco Real Estate, recently began construction on 33 Tehama, a new 389,000-square-foot luxury multifamily complex in San Francisco’s South of Market (SoMa) neighborhood.
Designed by Arquitectonica, 33 Tehama will include 403 luxury urban-style residences in a 35-story building, and will feature a best-in-class amenity package. The complex is surrounded on two sides by Oscar Park and is situated one block from the Transbay Transit Center.
“Hines is pleased to be able to respond to the significant demand for new, high-quality luxury housing in the San Francisco area,” said Charlie Kuntz, Hines managing director. “We are committed to delivering a superior product at 41 Tehama, and we are excited about its excellent location near the Transbay Transit Center.”
Construction is scheduled for completion in late 2017, and leasing commence in the third quarter of 2017.
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About Invesco Real Estate
Established in 1983, Invesco Real Estate manages $65.1 billion of real estate investments, including $36.9 billion in direct real estate investments and $28.2 billion in real estate securities (as of May 31, 2015). With more than 400 employees in 20 offices worldwide, the group focuses on top-down market and property fundamentals combined with bottom-up local market intelligence. Senior members of the management team have worked together for more than 25 years, contributing to the consistent implementation of Invesco’s investment strategy and resulting performance. Additional information is available at www.invescorealestate.com.