SAN FRANCISCO, CA - GTIS Partners, a global real estate investment firm with a focus on residential and industrial/logistics investments, and GreyBrick Partners, a San Francisco-based real estate investment and operating company, announced the acquisition of The Wilson, a 67-unit multifamily property located at 973 Market Street in San Francisco's SoMa neighborhood. This marks the ninth acquisition by a strategic joint venture formed by the two firms to acquire and reposition small-scale multifamily properties in desirable downtown San Francisco neighborhoods.
The venture was established to capitalize on what GTIS and GreyBrick believe is a compelling opportunity to acquire well-located multifamily assets at an attractive point in San Francisco's market cycle. San Francisco offers one of the most attractive long-term residential investment opportunities in the United States: apartment fundamentals continue to improve, new multifamily supply remains historically constrained, and demand is increasingly supported by the city's expanding artificial intelligence ecosystem and growing return-to-office trends.
Originally designed by renowned San Francisco architects Percy & Polk in 1904, The Wilson was comprehensively redeveloped in 2014 into a modern residential community while preserving its historic character. The seven-story property features 67 apartments above approximately 2,000 square feet of ground-floor retail space and offers residents an extensive amenity package including a rooftop terrace with outdoor kitchen and lounge, fitness center, resident clubhouse and co-working space, bicycle storage, package room, dog run, and building-wide Wi-Fi.
Located along Market Street between Fifth and Sixth Streets, The Wilson benefits from immediate access to Powell Street BART and Muni stations and is within walking distance of many of the city's largest employment centers, entertainment venues and retail destinations. The property's combination of high-quality residential product, transit-oriented location, and modern amenity offering positions it well to benefit from San Francisco's continued residential recovery.
The partners plan to execute a targeted capital improvement program focused on enhancing common areas, modernizing select building systems, and repositioning the vacant ground-floor retail space with a complementary neighborhood-serving tenant.
Tom Feldstein, General Counsel and Chief Operating Officer of GTIS Partners, said: "We are excited to continue this strategic partnership with GreyBrick and expand GTIS' residential investment strategy in one of the country's most compelling multifamily markets. San Francisco is entering the next phase of its recovery, supported by renewed employment growth, increasing office utilization, and an exceptionally constrained supply environment. Today's market presents a rare opportunity to acquire well-located multifamily assets at an attractive basis while positioning the portfolio to benefit from improving fundamentals over the long term. GreyBrick's deep local relationships and operating expertise make them an outstanding partner as we build this platform together."
Bryan Baskin, Co-Founder of GreyBrick Partners, said: "The Wilson exemplifies the type of opportunity our team has focused on for more than a decade—well-located San Francisco multifamily properties where thoughtful operations, targeted capital improvements, and exceptional resident service can create meaningful long-term value. We are excited to partner with GTIS to build a portfolio that combines GTIS' institutional investment discipline with GreyBrick's local acquisition platform, operational expertise, and deep market relationships. Our focus will be on delivering an exceptional resident experience while executing operational initiatives that enhance the long-term performance of every asset we acquire."
To date, the venture has acquired 193 units across nine multifamily buildings. By combining GTIS' institutional investment platform with GreyBrick's local acquisition, leasing, and asset management expertise, the venture seeks to build a differentiated portfolio of high-quality residential assets in one of the country's most desirable urban housing markets.