El Camino Health Plans New Hospital In Los Gatos: The San Francisco Deal Sheet
El Camino Health of Mountain View plans to replace its hospital in Los Gatos with a new 340K SF medical campus.
El Camino Health acquired the former Community Hospital of Los Gatos in 2009 and has invested more than $300M to renovate the hospital, but the 1962-built facility does not meet state-mandated seismic requirements or modern technological standards and must be replaced.
Rebuilding the hospital is expected to cost more than $1B. The new medical campus will be next to the existing hospital and is scheduled to come online in 2032. It will have 122 single-occupancy rooms and 12 operating rooms, along with a larger ER and advanced maternity, cardiac and oncology services.
INVESTMENT
ArtHaus Partners and Belay Investment Group acquired the 117-unit The Terraces multifamily complex in San Francisco’s Nob Hill neighborhood for roughly $25M, or $212K per unit.
The 13-story building at 1300-1330 Bush St. was built in 1975 and has 17K SF of vacant ground-floor retail space. Oakland-based ArtHaus Partners plans for exterior aesthetic improvements, structural retrofit, in-unit renovations and cosmetic upgrades to common areas.
It’s a return to San Francisco for ArtHaus Partners, which formerly operated in the city as Riaz Capital but left the market a decade ago to focus on the East Bay.
Jeff Wilcox and Andrew Ferguson of Gantry helped the JV secure a $24M bridge loan for the acquisition.
PEOPLE
Shelby Joubert joined Suffolk as vice president of operations for its San Francisco office. Joubert formerly worked as director of preconstruction for Swinerton.
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James Childress and Kellen Kollmorgen of Newmark’s Oregon capital markets team integrated with the firm’s San Francisco capital markets team, led by Steven Golubchik, who will provide strategic oversight to CRE transactions in the Pacific Northwest.
SALES
DPI Retail of El Segundo purchased Museum Parc, a 36K SF mixed-use property at 300 Third St., from New York-based Bridgerton for about $19.3M.
The fully leased asset anchored by Crunch Fitness is below 234 luxury condominiums and is adjacent to Moscone Center. Nearly one-third of the property’s retail tenants have been at the site for more than two decades, providing stable cash flow. JLL represented Bridgerton.
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Pacific Urban Investors purchased the 65-unit Bollinger Crest Apartments in San Ramon from Bollinger Crest Apartment Investors for $31.25M.
Built in 2000, the property consists exclusively of two-bedroom, two-bathroom apartments. Keith Manson, Zach Greenwood, Mac Watson and Tate Eames of Cushman & Wakefield represented the seller.
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Alex Lee-Bull and Lauren Lamb of CBRE’s San Francisco-based hotels group arranged the sale of Sutter Mansion, a 12-room boutique hotel at 1409 Sutter St., for $7.3M to a confidential buyer.
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Steven Golubchik, Edmund Najera, Darren Hollak and Brenden Raney of Newmark brokered the sale of an 11-building industrial portfolio in Dublin. Sierra Trinity was 97% leased at the time of sale.
FINANCING
Diamond Construction of Lafayette secured $60.5M in financing to construct Project Oak Hill, an 85-unit for-sale luxury condominium project in downtown Lafayette.
The project is expected to be completed in the summer of 2028. Matt Cimino and Jordan Angel of JLL’s capital markets debt and equity advisory team led the funding through Centennial Bank of Conway, Arkansas, with PCCP of San Francisco as a joint venture equity partner.
CONSTRUCTION AND DEVELOPMENT
Ensemble Real Estate Investment will break ground in July on Parkside, a 301-unit multifamily property in Santa Clara. It’s the second residential community in the Clara District by Ensemble, which delivered the 311-unit AVE Santa Clara in early 2025 in conjunction with Korman Communities.
LEASES
CBRE was named the exclusive leasing agent for 415 Natoma St., a 650K SF, 25-story Class-A office building in SoMa.
The building was acquired in June by The Meridian Group and Fenway Capital Advisors for $200M. The 2022-built asset was developed by Brookfield.
Conor Famulener, Luke Ogelsby, Madison Dutra and Jack Beritzhoff will lead leasing efforts for CBRE. The building includes 16K SF of ground-floor retail.
