National Real Estate Advisors, LLC (National) andEmerald Fund today announced the completion of the redevelopment of 100 Van Ness, transforming an outmoded 28-story office tower into one of the city’s most dynamic new luxury apartment residences. Complete with a new shimmering glass façade,the project, just a block from City Hall and the Civic Center, is an important part of the neighborhood’s evolution into a highly attractive work-live-play environs.
The joint venture partners, National and Emerald, held a grand opening celebration, hosting more than 700 guests, including inaugural building city officials, residents, local and international union trade representatives and contractors involved with the project.
National Real Estate Advisors’ President and CEO, Jeffrey Kanne, said “100 Van Ness creates a lifestyle residence unlike anything in the San Francisco market, a testament to the skills and dedication of the men and women who conceived and built this project.”
“Emerald Fund has been honored to work in partnership with National to transform an outdated office building into a gleaming residential tower,” said Marc Babsin, Principal of Emerald Fund. ”Together, we’ve not only developed one of the finest apartment buildings in the Bay Area, but we’ve helped to create a new, 24-hour neighborhood in San Francisco.”
Formerly the California State Automobile Association corporate office, 100 Van Ness now offers 418 luxury rental apartments and is already 55% leased. The building features a rooftop amenity deck with unparalleled views, a state-of-the-art fitness center and multifunctional amenity floor. 100 Van Ness also offers its tenants ample below grade vehicular and bike parking. The building is designed to be Green Point Rated and includes the latest building technology and energy management systems.
ABOUT NATIONAL REAL ESTATE ADVISORS
National Real Estate Advisors has $2.4 billion in net assets under management invested in commercial and multifamily real estate valued at $7.4 billion (as of 12/31/14).Through its open-end fund and separate account for pension fund clients, the company invests in major U.S. urban markets, using a build-to-core strategy in large-scale development and redevelopment projects. National builds investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data centers and hotels—with design features, technological enhancements, and amenities that can drive high tenant demand and create value over time. The firm is a subsidiary of the National Electrical Benefit Fund. For more information visit, www.natadvisors.com.
ABOUT EMERALD FUND
Headquartered in San Francisco, Emerald Fund is one of the Bay-Area’s premier real estate developers. Since 1979, Emerald has developed over 30 projects including residential, hotel, office and retail and has built more units of housing in San Francisco than nearly any other developer in San Francisco history.