300 Grant Offers Central Location and High Visibility for Dynamic Tenant Mix
San Francisco, January 23, 2013 -- A joint venture between Kinship Capital, Pearlmark Real Estate Partners, and Madison Marquette, announced the successful recapitalization of 300 Grant Street, a landmark retail destination located in San Francisco’s iconic Union Square district. 300 Grant offers 32,000 square feet on three levels and is positioned as a landmark real estate destination in one of the most highly-trafficked San Francisco commercial, residential, hotel and retail neighborhoods.
Nick Thomson and Ethan Meers of Kinship Capital, Eric Hohmann of Madison Marquette, and Dirk Degenaars and Jason Trailov of Pearlmark were the lead executives on the deal. The partnership plans to market the property to a new flagship retailer in the coming months.
Dirk Degenaars, Managing Director of Pearlmark, stated, “We are thrilled about this new joint venture and the opportunity to bring a flagship retailer to this exceptional property in San Francisco’s vibrant Union Square District.”
“High-quality partners, attractive physical characteristics, and fabulous location were core elements of our conviction in the acquisition,” said Nick Thomson, Vice President of Kinship Capital.
“Together with our partners at Pearlmark and Kinship, we plan to leverage this recapitalization to build on 300 Grant’s extraordinary record of success in this high-value market,” said Eric Hohmann, Senior Managing Director of Madison Marquette Property Investments (MMPI).
Madison Marquette Retail Services has leased and managed the asset for almost ten years and will continue doing so for this new partnership.
“As one of the most dynamic and pedestrian-friendly corners in central San Francisco, 300 Grant offers unique value and visibility for retail tenants – including its flagship tenant opportunity,” said Shipra Bhardwaj, Director of Asset Management of MMPI.
About Kinship Capital
Kinship Capital draws on decades of experience at the highest levels of real estate investment, development, leasing, and operation. The company manages direct real estate investments for the Searle family, which has owned and operated businesses in the Chicago area for more than 100 years. Kinship Capital provides investors with superior risk-adjusted returns by identifying, acquiring, and adding value to high-quality commercial real estate assets in premier U.S. markets. The company offers significant advantages: a long investment horizon, substantial financial strength, access to preferred financing vehicles, and a team with rapid decision making and due diligence capabilities.
The principals of Kinship Capital have a proven track record and deep relationships with sales and leasing brokers, tenants, owners, and lenders. They have sourced, underwritten, and executed numerous acquisitions, developments, dispositions, and financings. They also have extensive asset management experience and have conceived and managed construction projects ranging from minor interior improvements to ground-up and adaptive reuse developments of several million square feet. For more information, please visit www.kinshipcapital.com
About Pearlmark Real Estate
Chicago-based Pearlmark Real Estate Partners is a private equity real estate investment firm that pursues domestic, value-added investment strategies through a series of institutional equity fund vehicles. Since its inception in 1996, the firm has made more than 500 office, industrial, retail, multifamily, and mezzanine loan investments nationwide, representing a gross investment of approximately $12 billion. The current portfolio includes 40 office buildings, 3 retail properties and 2 industrial assets totaling approximately 13 million square feet, as well as 15 multifamily assets with approximately 4,100 units and 27 mezzanine or preferred equity investments. Pearlmark and its partners, including insurance companies, public and private pension funds, foundations and endowments, banks, corporations, and high net worth individuals and families, have committed nearly $4 billion of equity capital to the firm’s investment activities. The company currently employs approximately 50 professionals and is headquartered in Chicago with offices in Denver and New York City. For more information, please visit www.pearlmarkrealestate.com.
About Madison Marquette
Madison Marquette provides a full range of retail real estate services for over 20 million square feet of retail and mixed-use properties throughout the United States. The company specializes in enhancing the value of retail assets through an integrated approach to leasing, property management, marketing and development services. MMRS has offices located in Asbury Park, Boca Raton, Charlotte, Dallas, Los Angeles, New York, Philadelphia, San Francisco, Seattle, San Diego and Washington, DC. For more information about the company, please visit www.madisonmarquette.com.