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Presidio Bay Acquires Rentals in San Francisco’s SoMa District

Presidio Bay Ventures recently acquired Olume, a 95% occupied multifamily rental building at 1401 Mission St. in San Francisco’s SoMa neighborhood, for $39.75 million in partnership with Artemis Real Estate Partners. The sale was brokered by Matt Kroger, Ryan Wagner, Brandon Geraldo and Fatai Alashe from JLL. The seller was not disclosed.

The company said its acquisition strengthens its portfolio, aligning with its strategy to provide well-located, top-tier rental housing in a market where demand for quality residential options remains strong. It also reaffirms Presidio Bay’s commitment to the Bay Area, underscoring investor confidence in San Francisco’s multifamily market and the city’s potential as a key player in global economic growth, according to Presidio Bay.

The property will be managed by The Main Post, Presidio Bay’s hospitality-driven real estate services platform. Olume’s amenities include a 360-degree view rooftop deck, resident lounge & coffee bar, fitness center, pet park and EV charging stations.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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