Rubicon Point Partners (“Rubicon”), a woman- and minority-owned private real estate investment and operating company, today announced that it has acquired The Townsend Building, a six-story, transit-oriented, brick and timber building located at 123 Townsend Street in San Francisco.
The acquisition of The Townsend Building is part of Rubicon’s strategy to invest in high-quality properties on the West Coast. Rubicon approaches its investment decisions through the lens of proprietary data, analytics and AI applications that measure factors such as traffic and return-to-office metrics to help identify the best opportunities. As a woman- and minority-owned business dedicated to diversity, equity and inclusion, Rubicon also integrates measurable environmental, social, and governance programs into every aspect of its company and property operations.
“Our acquisition of The Townsend Building demonstrates our ability to not only identify a strong asset, but to add value to the transaction through thoughtful structuring,” said Ani Vartanian, Co-Managing Partner of Rubicon. “This acquisition gives our investors access to a bond-like structure backed by investment grade tenancy while also owning an iconic asset: a new way of evaluating real estate investments. Our investors look for us to be a smart, flexible and creative partner when investing in real estate, and we are optimistic that there are many other potential opportunities to apply this framework in our target markets."
“In spite of recent headlines, we are great believers in the resilience of San Francisco and the Bay Area,” said Razmig Boladian, Co-Managing Partner of Rubicon. “While challenges certainly remain ahead, we are encouraged by the many recent initiatives San Francisco has undertaken to spur the economy and business climate. We believe The Townsend Building will be a beneficiary of these initiatives.
“Our view is reinforced by our proprietary data that tracks indicators like workday traffic patterns and public transit ridership, giving us confidence in the longevity of the investments we are making. San Francisco and the Bay Area are still home to some of the world’s best universities, most innovative investors, and dozens of Fortune 500 companies. We hope to remain a constructive partner to the city and help make San Francisco, and the Bay Area, a better place to live and work.”
The 137,000-square-foot Townsend Building is located directly across the Embarcadero from Oracle Park, home of the San Francisco Giants, and is situated in a neighborhood with numerous retail amenities. The property is within five minutes’ walk of the San Francisco Caltrain station and the recently opened Muni Central Subway, providing tenants with convenient transit access. The property is anchored by an A-credit rated tenant who have occupied the majority of the building since 2013.
Established in 2010, Rubicon Point Partners is a privately held real estate investment and operating company with offices in San Francisco and Seattle. Our vertically integrated team combines deep repositioning and conversion expertise with hands-on management to deliver best-in-class tenant environments across a variety of commercial real estate assets including creative office, R&D, life science, medical office, and industrial flex. Rubicon is a woman- and minority-owned business dedicated to diversity, equity and inclusion. For more information, visit rubiconpoint.com.
