SAN FRANCISCO – Houston-based Hines, in partnership with Invesco Real Estate, began construction on 41 Tehama, a 389,000-square-foot multifamily complex in San Francisco’s South of Market (SoMa) neighborhood.
Designed by Arquitectonica, 41 Tehama will include 403 residences in a 35-story building. The building, slated for completion in 2017, will be one block from the Transbay Transit Center.
“Hines is pleased to be able to respond to the significant demand for new, high-quality luxury housing in the San Francisco area,” said Charlie Kuntz, Hines managing director. “We are committed to delivering a superior product at 41 Tehama, and we are excited about its excellent location near the Transbay Transit Center.”
Leasing for the SoMa residential units will begin in 2017.
Hines, which was founded in 1957, has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet.
Hines has locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services.