DivcoWest, a DivCore Capital company, announced the acquisition of Vance Apartments, a Class A, 137-unit multifamily building located at 830 Eddy in San Francisco’s Cathedral Hill neighborhood; the building was acquired in a partnership with JB Housing Ventures.
“This acquisition highlights the strength of DivcoWest’s residential relationships and ability to execute off-market transactions in highly competitive markets,” said Richie DeBeikes, Managing Director, Head of Residential & Southern California Investments. “We are firm believers in the resilience of San Francisco’s stability and growth and are committed to building long-term value for both our investors and the communities where we operate.”
Vance Apartments is steps from a National Historic Landmark District and the vibrant heart of San Francisco’s arts and culture scene, home to the Center for the Performing Arts, San Francisco Ballet, Opera, and Symphony, as well as several museums and live music venues. Its prime location near major public transit along Van Ness Avenue (US 101), with direct connections to the Golden Gate Bridge and Bay Bridge, provides seamless access to other cities and business districts throughout the Bay Area.
“Closing 830 Eddy is a meaningful first step for our new platform,” said Todd Chapman of JB Housing Ventures. “It exemplifies the profile we’re targeting: newly delivered urban housing acquired at a compelling entry basis, with clear demand recovery and tangible opportunities to create value through execution. We’re energized by the pipeline we see across several gateway and growth markets and look forward to scaling this strategy,” he added.
DivcoWest manages a diversified portfolio of multifamily assets across the United States, including properties in Berkeley and Los Angeles, Denver, Boston, Raleigh, and Austin.
Founded in 1993 by Stuart Shiff, DivcoWest, A DivCore Capital Company, is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Cambridge, Los Angeles, Menlo Park, Washington DC, Austin, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces.
