SAN FRANCISCO, (September 27th, 2017) – Stockdale Capital Partners has purchased a 241-stall garage at 350 Beach Street in San Francisco’s Fisherman’s Wharf neighborhood. This is the second parking acquisition completed by the Los Angeles-based investment firm for its institutional joint venture formed late last year with Grosvenor Group and San Diego’s Ace Parking Management. In February, Stockdale closed on the purchase of another San Francisco parking property: the 364-stall SOMA Grand Garage at 1160 Mission Street.
“Parking throughout San Francisco continues to be in high demand from users and this property is no exception,” said Daniel Michaels, Managing Director at Stockdale Capital Partners. “Using our asset management and operational expertise we feel we can add future value to this asset for the benefit of our investment partnership and the neighborhood,” he added.
Stockdale Capital Partners seeks value-add, income-producing parking garages in infill, high-traffic submarkets across the Southwest, as well as surface lots where parking operations can be executed.
Stockdale Capital Partners is a vertically-integrated real estate investment firm focused on niche investment opportunities across multiple asset classes in the West and Southwest on behalf of institutional investors. These include a $50M venture to acquire medical office buildings with Quilvest and a $75M partnership with private equity fund Siguler Guff for value-add investments across the Southwest. Both programs have announced acquisitions since launching last year. For more information on Stockdale, visit: www.stockdalecapitalpartners.com
Stockdale Capital Partners: Stockdale Capital Partners is a vertically-integrated real estate investment firm with a 60 year family office heritage focused on owning and operating commercial real estate over multiple asset classes throughout the Southwest. Stockdale’s leadership team has a long history of operational success and the firm’s in-house property management team has the ability to easily execute cutting-edge renovations and/or reposition large properties. Stockdale has offices in Los Angeles, Phoenix-Scottsdale and Houston.
Grosvenor Group: Grosvenor, one of the world’s largest private international property groups, works in some of most dynamic cities around the globe. We are guided by our ‘Living cities’ philosophy; we strive to create, manage and invest in properties and places that contribute to the enduring success of the cities in which we work. With 300 years’ experience as steward of our London estate, we believe we can help cities grow and evolve in ways that are socially, economically and environmentally sustainable. We aim to make a long term contribution to these cities’ future success by using creative design, high quality building materials and innovative environmental solutions in our development projects, and through intelligent management of our property assets. In doing so, we strive to create places in which people will want to live, work and enjoy their free time. By taking a long term approach, we are able to combine our global expertise with local knowledge and cultural understanding. We want our projects to reflect the spirit of the individual city and to foster thriving communities. We work closely with local communities, businesses and civic authorities, and with our partners, consultants and other developers to achieve this. Today we have 17 offices in 11 countries and assets in 17 countries. We have regional investment and development businesses in Britain & Ireland, the Americas, Asia Pacific, and Europe. We also have indirect investments, managed centrally. As at 31 December 2015, the Group had total assets under management of £13.1bn. www.grosvenor.com
Ace Parking Management: Ace Parking Management, Inc. (a California Corporation) was founded in 1950 and is one of the largest privately-held parking companies in the country. With over 65 years of history, Ace Parking continues to lead the industry with strict and attentive auditing procedures, superior levels of customer service and by consistently increasing clients’ parking revenues. Headquartered in San Diego, Ace Parking manages over 500 locations coast to coast, servicing nearly 350,000 customers per day and generating revenues exceeding $500 million annually.