The Case for Achieving Climate Goals with All-Electric Development

Urban developers already are implementing features like in-garage electric vehicle charging stations and electric water heaters to attract eco-conscious residents. Tesseract Capital, an active West Coast commercial real estate investor, redevelops properties with advanced appliances, smart thermostats, photovoltaic solar panels, and other tools where possible but has seen the difficulties of connecting to the electric grid. “The move away from …

Solis Garden

KeyBank Secures $35M in Loans for Two Multifamily Properties in Bay Area

HAYWARD, CALIF. — KeyBank Real Estate Capital (KBREC) has secured $35 million of Federal Housing Authority (FHA) fixed-rate loans for San Francisco-based Tesseract Capital Group (TCG) for the refinancing of two multifamily assets in Hayward. The company secured $17.5 million for Vivante Apartments and $17.4 million for Solis Garden Apartments. Both transactions closed using FHA’s 223(f) mortgage insurance program. Built …

TCG Acquires $12.7M Property in North Berkeley

Tesseract Capital Group (TCG) is pleased to announce its recent acquisition of Delaware Apartments, a 42-unit garden style apartment community located in Berkeley, CA. Despite a multi-round bidding process, TCG was able to secure the contract to purchase Delaware Apartments with a non-contingent offer to close within 40 days. Upon execution of the PSA, TCG worked with Colliers International to …

TCG Acquires Three Bay Area Properties ($14M)

Tesseract Capital Group (TCG) is pleased to usher in the new year with the announcement of three new acquisitions in the San Francisco Bay Area. The team was able to identify these value-add opportunities late 2018 and worked diligently to close them before year-end. 2191 Market St Located in the Duboce Triangle of San Francisco, the office serves as TCG’s …

TCG’s New HQ in San Francisco

Tesseract Capital Group (TCG) is pleased to announce the construction completion of its newly remodeled office headquarters located in San Francisco at the intersection of Market Street and 15th Street. The neighborhood is currently one of San Francisco’s most prominent locations for new construction activity including the addition of various dining and entertainment attractions. Acquired in June of 2018, TCG’s …

Mayor London Breed Nominates Derek Flores to the Planning Commission

San Francisco, CA – Mayor London N. Breed has nominated Derek Flores to serve as the newest member of the Planning Commission. Flores, 33, has extensive experience with creating new housing both in San Francisco and across the state, particularly multi-family units and Accessory Dwelling Units (ADUs). Flores is a native San Franciscan who was raised in the Richmond District and …

More housing on the way: SF meets deadline to clear huge application backlog

San Francisco Mayor London Breed is expected to announce Thursday that the city has managed to clear a backlog of more than 900 permits for accessory dwelling units that had been languishing in the approval pipeline. Breed handed down an executive order in August instructing city departments to dramatically cut down on the time it takes to assess, revise and approve permits …

TCG supports San Francisco Mayor’s Office to Rev Up Building Approval Process

San Francisco has 900 housing units stuck in the approval pipeline, and Mayor London Breed plans to do something about that Thursday. Breed is set to hand down an executive order to dramatically accelerate the city’s process for assessing and approving accessory dwelling units — starting with clearing the big backlog mired in various stages of review. As the city …

TCG Acquires 110-Unit Golden Gardens in Fresno ($9.5M)

Tesseract Capital Group (TCG) is pleased to announce its recent acquisition of Golden Gardens Apartments, a 110-unit, mixed-income apartment community located in the city of Fresno, CA. Golden Gardens was originally marketed with a CMBS loan assumption but subsequently closed via defeasance of its existing debt. Close of escrow occurred on April 13, 2018 at its originally contracted price of …