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Trumark Urban Mixed-Use Site Trades

On Friday we learned the 103-unit residential development site at 1545 Pine sold. Branded The Tower @ Nob Hill, the property was marketed by Newmark Cornish & Carey's Mike Taquino, who tell us details are confidential, and big multifamily brokers outside the deal around town are stumped on the buyer or price. Seller Trumark Urban declined to comment.

In December, Trumark managing director Arden Hearing told us ground will get moving on 346 Potrero and 645 Texas in early 2015. We checked in for an update and he said to expect more in the next month on both projects, which will add 170 combined units in Dogpatch and Potrero. Trumark has been so busy he told us in December the company was exploring JVs or selling off some of its projects. Last year Ross Perot Jr and his Texan real estate firm Hillwood made its first S.F. investment in Trumark's 76-unit luxury condo project at 2121 Webster.