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Ivanhoé, Veritas Acquire More San Francisco Multifamily


Ivanhoé Cambridge and Veritas Investments have acquired 16 multifamily properties in San Francisco for US$200M, including 610 Leavenworth St (above). The JV, formed in 2014, now owns 45 properties in that city, all in popular areas like Lower and Upper Nob Hill, Russian Hill and NOPA. San Francisco’s walkable infill neighbourhoods are “exhibiting the low vacancy rates and demographic factors that support long-term demand,” the firms said, noting that while the Bay Area has seen increased commercial real estate construction, its development-constrained marketplace favours “local neighbourhood character and existing properties.”