SAN FRANCISCO, June 30, 2016 — Solaire, San Francisco’s newest luxury apartment tower and addition to the city’s iconic skyline, is now open. The 32-story, 409-unit luxury high-rise complex at 299 Fremont Street welcomed its first residents last month, according to its development group which includes Multi-Employer Property Trust (MEPT), its real estate advisor Bentall Kennedy, and international real estate development firm, Golub & Company. Solaire residents enjoy stylish green design and top-notch amenities in a key location in San Francisco’s SoMa (South of Market) District near the under-construction Transbay Transit Center.
The development has brought thousands of jobs, significant economic activity, and an adjacent much-needed affordable housing development to the City of San Francisco.
“Solaire is an exciting new option in one of the strongest multi-family markets in the U.S.,” observed David Antonelli, Executive Vice President and MEPT Portfolio Manager at Bentall Kennedy. “Its proximity to the Transbay Transit Center makes it an ideal choice for San Francisco young professionals who want to be near the waterfront and downtown San Francisco while enjoying an easy commute to Silicon Valley.”
A Golub & Company team led by principals Michael Newman, President and CEO, and Lee Golub, Executive Vice President, was selected as the developer of the site by the City of San Francisco, then-owners of the site. According to Golub, “We’re thrilled to open the doors of Solaire to its first residents and are confident that Solaire will be the premiere destination for San Francisco renters seeking luxury living in a true live/work/play neighborhood for many years.”
Designed to achieve U.S. Green Building Council Leadership in Environmental and Energy Design (LEED) Gold certification, the building incorporates energy-saving measures such as a high-performance building enclosure, water saving plumbing fixtures, high efficiency mechanical equipment, native plantings and extensive storm water management systems. The architect of record is the San Francisco office of Solomon Cordwell Buenz, and the general contractor was a joint venture between Balfour Beatty and Cahill Construction.
The property’s studio, one- and two-bedroom floor plans feature floor-to-ceiling windows with rolling shades. Other apartment features include two-toned soft-close cabinetry, white quartz countertops, stainless steel appliances and a modern glass tile backsplash in the kitchen; an in-unit Bosch washer and dryer; grey plank flooring throughout; and a ceramic tiled bathroom.
Solaire’s amenities include 11 outdoor ‘sky deck’ spaces located one on every third floor; a seventh floor terrace with an outdoor spa and professional grills; a sixth floor community level with a resident lounge, coffee bar, a state-of-the-art fitness center, co-working lounge, conference room, and a game room; bicycle storage and repair; three Zipcar automobiles in the building’s parking garage; and a self-service pet grooming station.
About Bentall Kennedy
Bentall Kennedy, a Sun Life Investment Management company, is one of the 30 largest global real estate investment advisors and one of North America’s foremost providers of real estate services. Bentall Kennedy serves the interests of more than 550 institutional clients and investors managing approximately $33 billion of assets across 60 million square feet of office, retail, industrial, and multi-residential properties throughout Canada and the U.S. (as of the most recently completed fiscal quarter). Bentall Kennedy is a member of UN PRI and a recognized Responsible Property Investing leader ranked 1st globally in its peer group in the 2015 Global Real Estate Sustainability Benchmark (GRESB). Bentall Kennedy includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates, all of which comprise a team of real estate professionals spanning multiple legal entities. The assets under management shown above include real estate equity and mortgage investments of the companies within Bentall Kennedy, and exclude assets scheduled to transition out of Bentall Kennedy. For more information, visit www.bentallkennedy.com.
Multi-Employer Property Trust (MEPT) is a $7.8 billion, open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in 25 major metropolitan markets across the U.S. Founded in 1982, MEPT is owned by more than 325 institutional investors and advised by Bentall Kennedy. Signatory to the UN Principles for Responsible Investment, MEPT is recognized as a pioneer in Responsible Property Investing (RPI) and has been consistently top-ranked in the U.S. by GRESB for its environmental performance. For more information, visit www.mept.com.
About Golub & Company LLC
Since its founding more than 55 years ago, with three generations of professionals working in the business, Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It’s a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties (inclusive of 45,000 residential units), valued in excess of $10 billion located across the United States and internationally. Access more information by visiting www.golubandcompany.com.