San Francisco

The approval process for the 19-story LEED Gold office tower, 200 Park, was streamlined due to the city's adoption of the downtown plan which allows conforming projects to be approved at a director's hearing.

Kevin Morgan will lead the region's operations and business strategy with a focus on client service as well as developing, recruiting and retaining top professionals, GlobeSt.com learns in this EXCLUSIVE.

Prologis chairman/CEO Hamid Moghadam says markets remain healthy, driven by customers who are prioritizing proximity to consumers to offset supply chain costs such as labor and transportation.

Supply-constrained West Coast markets continue to add jobs and grow incomes at a sufficient pace to maintain market rent growth near long-term averages, says Michael Schall, Essex president/CEO.

Facebook is donating $1 billion during the coming decade for California affordable housing, on the heels of Google's announcement earlier this year of a $1 billion housing stipend to help with the affordability crisis.

Gavin Newsom recently signed into law a bill to create a state historic tax credit of 20% of qualified rehabilitation expenditures, with an increase to 25% of QREs that meet certain criteria, i.e. affordable housing.

There is definitely pent-up demand for new product as occupancy in the submarket has been above 78% since 2014 and for each of the last six years, room demand increased 2% and ADR increased 6%-plus.

The purchase of 217-unit building marks Pacific Urban's third multifamily purchase in the Northeast since the firm established a regional office in New York late last year.