{"id":1004137663,"date":"2016-02-23T06:09:57","date_gmt":"2016-02-23T14:09:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004137663"},"modified":"2022-03-03T21:01:06","modified_gmt":"2022-03-04T05:01:06","slug":"roseview-pmrg-fund-marks-first-nocal-purchase","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/roseview-pmrg-fund-marks-first-nocal-purchase\/","title":{"rendered":"Roseview-PMRG Fund Marks First NoCal Purchase"},"content":{"rendered":"<p><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p><strong>San Francisco<\/strong>\u2014<a href=\"https:\/\/www.pmrg.com\/\" rel=\"nofollow noopener\" target=\"_blank\">PM Realty Group<\/a> and <a href=\"https:\/\/roseview.com\/roseview-evergreen-fund\/\" rel=\"nofollow noopener\" target=\"_blank\">Roseview Evergreen Fund<\/a> have formed a new discretionary fund with $250 million committed for investment. Known as the Roseview-PMRG Fund I, the entity has already completed its inaugural purchase in North California\u2014a two-building Sausalito office complex. The transaction was completed on behalf of the seller by a <a href=\"https:\/\/www.us.jll.com\/united-states\/en-us\/services\/investors\/capital-markets\" rel=\"nofollow noopener\" target=\"_blank\">JLL Capital Markets<\/a> team consisting of Managing Directors Michel Seifer and Rob Hielscher, as well as Vice President Erik Hanson.<\/p>\n<div id=\"attachment_1004137664\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Harbor-Drive3.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004137664\" data-attachment-id=\"1004137664\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/roseview-pmrg-fund-marks-first-nocal-purchase\/harbor-drive3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Harbor-Drive3.jpg\" data-orig-size=\"940,597\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Harbor-Drive3\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;3 Harbor Drive &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Harbor-Drive3.jpg?w=940\" class=\"wp-image-1004137664 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Harbor-Drive3.jpg\" alt=\"3 Harbor Drive \" width=\"300\" height=\"191\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Harbor-Drive3.jpg 940w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Harbor-Drive3.jpg?resize=300,191 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Harbor-Drive3.jpg?resize=768,488 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004137664\" class=\"wp-caption-text\">3 Harbor Drive<\/p><\/div>\n<p>The property at 1 &amp; 3 Harbor Drive in Sausalito, Calif. offers a total of 114,314 square feet of office space. The 34-year-old, two-building complex is set for a makeover as the new owner will put in place a speculative suite program. Upgrades will be made to the property\u2019s interior and exterior, with new features such as a conference facility, bicycle storage area and on-site management office also included in the plan. At the time of escrow closing, the property was 19 percent vacant. Part of the program\u2019s aim is to increase value by signing tenants to the available space.<\/p>\n<p>Given the property\u2019s position in a market just north of the city, in Marin County, the property aims to attract companies looking to relocate over the Golden Gate Bridge. \u201cWe plan to begin adding value immediately to 1 &amp; 3 Harbor and believe that once key improvements have been made, this asset will attract new tenants seeking prime, turnkey workspace,\u201d John Dailey, executive vice president of PMRG said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the acquisition, the two-building office complex in Sausalito will undergo a capital improvements program. <\/p>\n","protected":false},"author":41,"featured_media":1004137664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21783,21742,21747,21785,1609,15],"tags":[],"class_list":["post-1004137663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-investment","category-latest","category-office","category-property-management","category-san-francisco","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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