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San Francisco-based private investment firm SFF Realty Partners completed a $500M fundraise to acquire properties in the Bay Area.
SFF Realty Partners, formerly known as PSAI Realty Partners, raised the investment capital in a one-year timeframe, the Silicon Valley Business Journal reported.
SFF Realty Partners said the investor pool for SFF Realty Fund V consisted mainly of foundations and endowments, the SVBJ reported. Twenty-six investors contributed just over $291M to the fund, according to Securities and Exchange Commission filings.
The fund lists Michael Feldmen, Erik Foraker and Casey Holt as executives. Peter Sullivan, who founded PSAI Realty Partners in 1991, isn’t listed as a partner in the fund.
It’s the fifth investment fund sponsored by SFF Realty Partners, according to the SVBJ. The firm intends to focus on Bay Area value-add investment properties.
In January, SFF purchased a fully leased five-building tech campus in Mountain View for $193M, the SVBJ reported. Built in 1988, Mountain View Corporate Center spans 289K SF and drew strong interest from nearly 20 institutional investors.
In late 2024, SFF purchased The Plaza at Walnut Creek in a $162M transaction, The Mercury News reported. The two-building, 362K SF Class-A office complex transacted for $477 per SF, a recent high-water mark for an East Bay office property.
Earlier in 2024, SFF added a six-building office complex totaling 352K SF in Pleasanton to its portfolio for $73.5M, The Mercury News reported. The property occupied by Clorox previously sold for $113.5M in 2016.
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