SAN FRANCISCO (April 16, 2015) – Zaber Corporation, Inc., and JMA Ventures LLC, are pleased to announce that Zaber Corporation has acquired from JMA Waterfront Partners the highly acclaimed Rincon Park Restaurants project located on San Francisco’s waterfront along the Embarcadero. The project, occupied by well-known EPIC and Waterbar restaurants, is the largest stand-alone restaurant project in San Francisco and was a pioneering waterfront development project when it was completed by JMA Ventures in 2008. As part of the transaction, JMA Ventures and its principals will continue in the venture as an equity partner with Zaber.
Based in San Francisco, California, Zaber Corporation is a privately-held real estate development, investment and management company. The acquisition of the Embarcadero properties is the second significant asset in Zaber’s portfolio in San Francisco, which includes a premium property in Union Square. Zaber’s portfolio of investments includes retail, office and multi-family residential assets in New York City and San Francisco.
“We are pleased to become a part of the iconic properties with Waterbar and EPIC as our tenants. We are excited about their growth prospects in the burgeoning SOMA and Waterfront districts of San Francisco,” said Stephen Mong, Zaber’s CFO. “We look forward to a strong partnership with Todd Chapman and his team of professionals at JMA. We are optimistic about the real estate market in San Francisco and look forward to expanding our presence here in San Francisco.”
“We are pleased to have completed this transaction with Stephen Mong and his team at Zaber Corporation,” said Todd Chapman, JMA’s president and CEO. “Waterbar and EPIC continue to be in the forefront of San Francisco’s robust restaurant culture, creating innovative dishes and providing guests with some of the best views and waterfront experiences in the City. Zaber and JMA have a dynamic partnership and a shared vision of how we look at investments and we look forward to working together on additional opportunities in the future. I would also like to thank Kazuko Morgan and Seth Seigel of Cushman & Wakefield who worked tirelessly to assist with this complex transaction.”
When Waterbar and EPIC opened in 2008, they were at the forefront of new growth along the San Francisco waterfront. Seven years later, the restaurants are extremely successful with both locals and tourists and serve as the prime viewing sites for the once and future Bay Lights installation. Waterbar and EPIC are now anchors in a neighborhood that continues to flourish as construction of the new Transbay Transit Center, Salesforce Tower and several high-end residential buildings progresses along the Folsom Street corridor and throughout the trendy South of Market neighborhood. Operations for the two restaurants are run by Land & Sea Restaurants LLC, which still includes founding partners Pat Kuleto, Parke Ulrich, Pete Sittnick, Jan Birnbaum and Mark Franz.
JMA Ventures is responsible for some of Northern California’s most appealing lifestyle and entertainment venues. With interests ranging from San Francisco’s Ghirardelli Square, the new $1 billion Entertainment and Sports Center mixed use project under construction in Sacramento, California, numerous high profile resort properties in Lake Tahoe and sports resort leader The Bay Club Companies, JMA continues to be a leader and innovator in stewarding highly creative and unique investments and developments throughout the United States.
About JMA Ventures, LLC
JMA Ventures LLC is a full service San Francisco based investment and real estate development company with in-house acquisition, development, finance, leasing, marketing and management capabilities. The company has compiled a 20-year track record of successful projects, both residential and commercial, combining investment and development expertise currently serving as general partner and master developer for in excess of $1.5 billion of real estate related investments across the western United States.
JMA’s portfolio encompasses some of Lake Tahoe’s and the San Francisco Bay Area’s most appealing lifestyle and entertainment venues, including the proposed redevelopment of Homewood Mountain Resort in Lake Tahoe; the West Shore Café and Inn; Constellation Residences at Northstar, A RockResort; Red Lodge Mountain and Golf in Red Lodge, Montana; the mixed use portion of the Sacramento Entertainment and Sports Center; a minority ownership of The Bay Club Company in San Francisco; Fairmont Heritage Place at Ghirardelli Square in San Francisco; as well as Waterbar and EPIC restaurants on San Francisco’s Embarcadero waterfront. For more information, please visit www.jmaventuresllc.com