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12/14/22
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The Prado Group has purchased the 4.9-acre site in San Francisco’s Presidio Heights neighborhood occupied by the California Pacific Medical Center in a deal said to be worth over $50 mil. The property, which was sold by Sutter Health, is entitled for a 273-unit multifamily development.
The property covers three blocks at 3700 California Ave, a couple of blocks east of Arguello Blvd. The planned development is expected to consist of 19 multifamily buildings and 14 individual single-family homes, along with some existing rental units. It is expected to contain a mix of studio, one, two-, three- and four-bedroom units.
Based in San Francisco, The Prado Group owns a number of urban properties, including an 11.2k sf retail property at 166 Grant St, near Union Square. That property, constructed back in 1908, is fully leased to Georgio Armani through 2030.
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