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HP Investors' First Move in Oakland Is...

WASHINGTON DC 03.16.2017

CAPITAL MARKETS AND REAL ESTATE FINANCE

Investing in 2017, Hot Markets, and the Ever-Changing Capital Stack

Mark Hertz -- AIG Global Real Estate
Sujan Patel -- Colony NorthStar
Joe Carter -- Wells Fargo

The first buy out of HP's new Oakland office is a 9,115 SF vacant retail property in the Jack London District, which it acquired for an undisclosed sum, HP principal and manager of the new Oakland office Isaac Abid tells us. The purchase marks the company's 25th acquisition in the past 48 months.

The property is made up of the ground-floor component of The Ellington, a 170-unit luxury condominium developed in 2009 and has 150 linear feet of frontage along Broadway between 2nd and 3rd streets. There are also dedicated parking spaces and 30-foot ceilings, and it can accommodate one or multiple tenants. The "emerging retail corridor" fits with HP's long-term market view, says Isaac. Colliers' Erika Elliott and Ramsey Wright are marketing.

Related Topics: Oakland, HP Investors