San Francisco Acquires Luxury Apartments as Supportive Housing
Colliers arranged the sale of ŌME, a luxury mixed-use building, to the City and County of San Francisco for a price exceeding $27 million. The City and County of San Francisco acquired ŌME to further the mission of supplying supportive housing for Transitional Aged Youth leaving homelessness.
Payam Nejad with Colliers represented the seller, Greenseed Folsom Land LLC. Located at 1174-1178 Folsom St. and 663 Clementina St., ŌME contain 42 residential studios, along with a full floor that consists of 5,720 square feet of commercial office space, three ground-floor retail spaces and a 2,186-square-foot lower-level office or storage space.
“ŌME is a well-amenitized and centrally located mixed-use development that, under the direction of the City and County of San Francisco, will now be able to offer stable housing opportunities to young, unhoused members of our community,” said Nejad. “This transaction also represents Colliers’ commitment to pursuing municipal sales, in addition to traditional market sales, to optimize a property’s potential.”
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).