Seagate Properties

A Real Property Investment & Operating Company

Opportunistic Investment

Links at Legacy Ridge

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Constructed in 1999, Legacy Ridge offers 9’ ceilings, units on average 100sf larger than current norm for new construction, an irreplaceable location in a high barrier to entry submarket along with an opportunity to update amenities, unit interiors and drive rents. Located in Westminster, Legacy Ridge is located in one of the most difficult submarkets to develop new apartment product due to high utility tap fees, the requirement for a PUD and the city’s Comprehensive Plan which anticipates only 636 units of high-density housing over the next 18 years.

Legacy Ridge is adjacent to the Legacy Ridge Golf course with high visibility along Federal Boulevard and the majority of undeveloped land in close proximity is designated Open Space. Approximately 141 units were renovated in 2013 and the scope did not include high end finishes such as stainless appliances and quartz countertops. The opportunity exists to update the 91 un-renovated units and take the 141 units completed in 2013 to the “next level”. In addition, Seagate completed a full exterior paint of the property, replaced all of the roofs, and made extensive landscaping, pool, and amenity upgrades.

Northtowne Summit Apartments

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Northtowne Summit Apartments (“Northtowne”) is a 1997 vintage community, offering 220 units in 22 residential buildings and a 2,900 square foot clubhouse. Features and amenities include a fitness center, swimming pool with spa, dog-park, in unit washers and dryers, oversized balconies, spacious closets, built-in microwaves, gas fireplaces (2nd floor units), carports, forty-five detached garages and spectacular panoramic views of Sierra Nevada Mountains and downtown Reno.

Northowne is ideally located with convenient nearby shopping and has a central location at the Highway 580 and North McCarran interchange. Seagate acquired Northtowne in 2017 and immediately executed an extensive capital improvement program including a complete clubhouse renovation, full exterior paint, concrete and asphalt repairs, extensive landscaping improvements, and pool and amenity upgrades.

Park Place Olde Town

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Park Place Olde Town is an amenity-rich community only steps away from historic Olde Town Arvada and the Olde Town Arvada G-Line Light Rail Station. Constructed in 2016, Park Place Olde Town‘s 153 units comprise 96 one bedroom/one bath units and 57 two bedroom/two bath units.

All units offer fully equipped gourmet kitchens with quartz countertops and stainless steel appliances, stackable washer/dryer, plank flooring, generous walk-in closets, and oversized private balconies. Park Place Olde Town offers its residents a parking garage with electric vehicle charging station, controlled access, complimentary gourmet coffee service, a state-of-the-art fitness center, and courtyards that include a glass encased modern café and lounge adjacent to an outdoor fire pit, BBQs, and an elevated ‘Splash’ pool.

Panorama at Arvada Ridge

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Panorama at Arvada Ridge is perfectly situated near major employers with convenient access to both the Denver CBD and Boulder. Built in 2005, this 264 unit offers a solid mix of one, two and three bedroom units, all with full size washer/dryer, built-in computer desk, electric fireplace, 9’ ceilings and walk-in closets.

Residents have access to a Jr. Olympic swimming pool, hot tub, fire pit, grilling stations, a theatre and sports lounge, 24-hour fitness center, 302 detached garages, a dog park and business center.

Rafael North Executive Park

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North Redwood Executive Park offers hilltop views overlooking the Northgate area of San Rafael and is the perfect small business executive park location! Located 12 minutes from central San Rafael, 3 minutes from the San Rafael airport, and 30 minutes from the John F McInnis County Park, 165-185 N Redwood is a serene, professional office building with easy Smith Ranch Road and Highway 101 freeway access.

Rafael North Executive Park offers operable windows, a courtyard square, and two large conference rooms facilitates for its tenants. Professionally maintained and managed with ample parking available.

3030 Bridgeway

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Newly remodeled, 3030 Bridgeway is a perfect solution for your commercial needs or home away from home office. This two story property was built in 1942 by the US Army Corp of Engineers and sits on 1.29 acre site. The property is on an attractive and historic site and is enjoyed by over 85 tenants. Features include parking, conference facilities, on-site security, a common area kitchen and free coffee and amenities.

Located approximately 12 miles north of downtown San Francisco in Marin County, the property has excellent visibility on Bridgeway which is also the main street into downtown Sausalito. The main retail corridor in downtown Sausalito is just one mile from the property, via the Sausalito exit off Highway 101. Just across Highway 101 via Bridgeway is the Marin Gateway Shopping Center, with various restaurants, shops, and a pharmacy.

900-910 E. Hamilton Ave

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Seagate initiated and negotiated the purchase of this property, with an unsolicited offer, on behalf of a public pension fund client. The sellers need for increased liquidity created a unique purchase opportunity for Seagate and our client.

The Dakota at Governor’s Ranch

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A value-add purchase of a 246 unit apartment complex, built in 1996, on a 14.8 acre site. This garden-style property with all two-story buildings and private entrances, has a unit mix of 39% one bedroom units and 61% two-bedroom units. Located adjacent to the Southwest Plaza Mall in Littleton, Colorado, the Dakota was purchased at a significant discount to replacement cost with an opportunity to upgrade community amenities and unit interiors. The community clubhouse landscaping and pool were recently upgraded, washer/dryers were added to all the units, and 45% of the unit interiors have been renovated.

Montecito Plaza Shopping Center

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In 1986, Seagate identified this well located, yet run-down retail center as a unique value-added opportunity in an infill location. Substantial deferred mainatenance, passive management, high vacancy and poor market position resulted in a unique opportunity to renovate the physical structure and reposition and re-tenant the property. Retail sales increases exceeded 200%, continued high occupancy, and lease rates that lead the competitive markets attest to the successful implementaion of this strategy by Seagate.

The Wellshire

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A value-add purchase, this twelve-story, high-rise community was built in 1962 and is located in southeast Denver. The Wellshire is a one of kind community with wrap-around balconies, floor to ceiling windows, and spacious units averaging nearly 1,000 sf. The Wellshire is ideally situated to benefit from a value-add renovation program due its central location, large units, dramatic views, and strong demographics.

Upgrades at the property include the conversion of the 12th floor community room into an additional unit, enhancement of the roof deck with a fire pit, outdoor TVs, and new BBQs. On the ground floor, Seagate completed a 3,500 square foot expansion and renovation including a new leasing office, community room with pool table and shuffle board table, fireplace, kitchen, and conference rooms. In addition, the courtyard was renovated to include a firepit, water feature, landscaping improvements and renovated dog park.

2465 Latham

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This Class A, transit-oriented, multi-tenant office building is located near downtown Mountain View, in the heart of Silicon Valley, walking distance to the San Antonio Shopping Center and San Antonio Caltrain station. Seagate acquired the property, corrected various deferred maintenance items, renovated the lobby, and stabilized the tenancy, all ahead of the steeply rising curve of Silicon Valley investment property values.

2850 Telegraph

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Located on Telegraph Avenue in close proximity to both University of California Berkeley and Alta Bates Medical Center, this building had been occupied as a single-tenant facility for nearly thirty years, and suffered from capital starved, dysfunctional ownership. Seagate acquired the property with the strategy of completing a major seismic upgrade and repositioning as a multi-tenant office building to serve the needs of the adjacent medical and educational community. Seagate subsequently sold the property to the University of California, Berkeley and it is used as administrative offices for Boalt Law School.

Belmar Villas

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A value-add purchase of a 318 unit apartment community, built in 1975 and substantially renovated in 1991, on a 18 acre site. The 318 units include 26% one-bedroom units, 51% two-bedroom units, and 23% three-bedroom units. Located adjacent to the nationally recognized 104 acre Belmar redevelopment, there was tremendous upside opportunity to upgrade common area unit interiors and remain the “low cost leader” with all the amenities of newer product. Along with 20% of the unit interiors, the capital improvement plan included significant clubhouse, pool, spa, landscaping and building exterior improvements.

Berkeley Central

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This purchase of four contiguous office buildings located in the heart of downtown Berkeley, California was sourced as a single transaction by Seagate.

Seagate was attracted to the opportunities presented by the below-market income stream combined with an attractive intrinsic price.

The close proximity to BART and the University of California also weighed favorably in our decision to pursue this property. Seagate served redevelopment approvals of this 25,000 square foot site that resulted in construction of 152 Class A apartments.

Serramonte Plaza

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Seagate purchased this mixed-use project, consisting of 14 individual properties, as a single acquisition. Substantial value was created by arbitraging cap rates through an indivuual resale program, offering smaller properties to individual investors and 1031 exchange buyers.

The property enjoys high visibility from Highway 280, benefits from easy freeway access, and has ample parking for the professional corporations, retail users, and medical tenants.