Potrero Hill Apartments Fetch One of San Francisco’s Highest Per-Unit Prices

Stockbridge Capital Group has acquired the 172-unit Alta Potrero apartments at 1301 16th St. in San Francisco’s popular Potrero Hill neighborhood for $132 million from developer Wood Partners, the San Francisco Business Times reported. At $767,000 per unit, it’s among the highest-priced acquisitions of the post-pandemic era.

The acquisition, Stockbridge’s second in its hometown this year, affirms the continuing acceleration of San Francisco’s residential market, reported the Business Times. Apartment rents have picked up notably in the city and reached historic highs this year thanks to the AI boom and subsequent hiring push, along with a lack of new supply.

Wood Partners completed the Alta Potrero apartments about six years ago, the Business Times reported, acquiring the site in 2017 for $15.4 million before starting construction in 2018. The developer also built the 330-unit Alchemy apartments at 200 Buchanan in San Francisco, two communities in Oakland and one in Alameda.

Image courtesy of Wood Partners.

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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).

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