(Read more on the multifamily market.)
SAN FRANCISCO-Capital Properties of New York City has attractedIngrid Summerfield to be its EVP of West Coast development.Previously Joie de Vivre Hospitality's SVP of new hotel operations,Summerfield's first order of business for Capital Properties willbe overseeing the repositioning of its first Californiaacquisition.
InJune, Capital Properties paid $143 million for theresidential component of Rincon Center, a 320-unit Downtownproperty located adjacent to the Ferry Building and theEmbarcadero. Plans are currently under way to turn the propertyinto a luxury residential complex that offers both furnished andunfurnished apartments and spectacular views of the San FranciscoBay and the Bay Bridge.
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