Seagate Properties
A Real Property Investment & Operating Company
The Greenville Business Center II is a Class A multi-tenant industrial/office flex building on 5.05 acres of land in Livermore, California. Located at 7701 Los Positas Road, the project features 28’ clear height, two-story office space and 24 skylights.
Constructed in 2000, Greenville Business Center II is a concrete tilt-up project featuring 2000 AMP power and ample parking. The well-located building offers immediate access to Interstate 580, a major east/west thoroughfare in the region.
This mixed use building provides both retail on the ground floor and a modern office space on the second floor. The building is conveniently located one block west of the the UC Berkeley Campus and one block east of Downtown Berkeley. 2108 Allston is home to the Berkeley Wireless research center, FedEx and Verizon Wireless.
This premier downtown Berkeley building is located in the heart of the flourishing Arts District, and is within walking distance to BART. Originally built in 1987, 2030-2040 Addison is a 47,600 square foot office building featuring suites with ample glass finishes, operable windows and beautiful views.
Constitution Square is a four story, 32,450 sq ft. mixed-use office and retail building located in the heart of downtown Berkeley, one block from the UC Berkeley campus and steps away from the entrance to the Downtown Berkeley BART station. Retail tenants include AT&T wireless and Togo’s Sandwiches.
The Adam Grant building, originally built in 1908 and fully renovated in 2003, is a 14 floor historic office building strategically located at the northeast corner of Sansome and Bush streets in the heart of the downtown San Francisco financial district.
The building’s historic architecture features operable windows on all sides of the building, filling the interior spaces with abundant natural light. This renaissance / baroque building enjoys a prominent location one block from Market St. and the Montgomery BART/MUNI metro station, serving the Bay Area.
Seagate and an institutional partner acquired the property with greater than 60% vacancy and promptly stabilized the asset with a mix of high quality tenants. The property was sold in 2013 after substantial price appreciation.
A value-add purchase of a 288 unit apartment community, built in 1985, on a 11.3 acre site. The 288 units include 42% one-bedroom units and 58% two bedroom units.
The property was acquired at a significant discount to replacement cost, an attractive going-in yield, and an opportunity to significantly upgrade the common areas, amenities and unit interiors.
The capital improvement program included a completely renovated clubhouse, exterior paint, pool and spa upgrades, landscaping upgrades, a new perimeter fence, parking lot improvements, concrete and stairwell improvements, new playground equipment and unit renovations.
Seagate rebranded the property immediately after purchase as well.
This sleek and modern 320-unit tower underwent a rental apartment project to condominium conversation in February, 2007. Designed by architect Johnson Fain in 1989, 88 Howard is now part of San Francisco’s exciting condo-conversion
trend.
A value-add purchase of a 220 unit apartment community, built in 1988, on a 7 acre site. The 220 units are arranged in 30 buildings with 100 townhome units and 120 flat-style units that include 63% two-bedrooms and 38% one-bedroom units.
The property was acquired from a lender that had foreclosed on the previous owner. The property had been capital starved and was in very bad condition.
Capital improvements included a full exterior paint, wood and balcony replacements, extensive landscaping upgrades, a new pool, and spa associated amenities.
A value-add purchase of a 150 unit apartment complex, built in 1969, situated on a 10.4 acre site.
Copper Chase provides a unique unit mix of 53% three-bedroom units, 30% two-bedroom units, and 17% one bedroom units. Located across the street from the 430,000 square foot Broadmoor Town Center, Copper Chase represented an attractive going in yield, a significant discount to replacement cost, and an opportunity to add and upgrade amenities, common areas and unit interiors.
Completed upgrades included a new pool, new volleyball court, fitness center, playground improvements, new dog park, exterior paint, roof replacements, landscaping upgrades and twenty percent (20%) of the unit interiors.
Seagate acquired Park Terrace Apartments and rebranded it as Fillmore Ridge Apartments.
This REO purchase completed in August 2010, encompassed a 115 unit apartment community offering a mix of studio, 1 bedroom, 2 bedroom and 3 bedroom floor plan alternatives.
Constructed in 1965-1967, Fillmore Ridge sits on 4.66 acres located in northwest Colorado Springs and borders I-25 on W. Fillmore Street.
Seagate completed a $700,000 renovation of the project that included a new management office, business and fitness centers, new windows throughout, exterior paint, façade improvements, enhanced exterior lighting, parking lot improvements, upgraded common areas and approximately 20% of the interior units received a facelift.
A value-added purchase of a 336-unit apartment community situated on a 25.1 acre site. The property, built in 1984, has 45% one-bedroom units, 48% two-bedroom units and 7% three-bedroom units. The property is extrememly unique in this market due to its extrememly low density of only 13.4 units per acre, a tremendous location immediately adjacent to a 740 acre city park, and a very large average unit size of 883 square feet. Substantial rehabilitation of the property was completed including upgrades to all common areas, a total rennovation o the clubhouse and leasing offices and substantial upgrades to the unit interiors.
A value-add purchase of a 310 unit apartment complex, built in 1966, on a 27 acre site. This low-density property enjoys a unit mix of 25% one bedroom units, 49% two-bedroom units, and 26% three-bedroom units. Sunset Creek was acquired off-market from a long term owner at a significant discount to replacement cost and an above market cap rate.
Located adjacent to the University of Colorado at Colorado Springs and the 700,000sf University Village Town Center, the property was ideally situated to benefit from a value-add program that included a fully renovated clubhouse, new pool and spa, landscaping upgrades, exterior paint, common area upgrades, and renovation of 10% of the unit interiors.
A housing development in a submarket lacking sufficient entry level for-sale housing.
Seagate purchased 1.5 acres of land and constructed 34 modular housing units directly across the Sacramento River from downtown Sacramento and within the city’s designated redevelopment zone, fitting within Seagate’s and the city’s urban in-fill vision.
A value-added purchase of a 196 unit apartment complex, built in 1971, situated on 5.5 acres. The unit mix is 9% studios, 66% one-bedroom units and 25% two bedroom units.
The property enjoys extremely high visibility from a major freeway, and represents the only Class B complex within an extremely strong sub-market. The investment included a substantial increase in rental rates without competing directly with the nearby Class A complexes.
Substantial rehabilitation of the property was completed including upgrades to all common areas and unit interiors.
A value-added purchase of a 204-unit apartment complex built in 1973, situated on a 6.5 acre site. The unit mix is 80% one-bedroom units and 20% two-bedroom units.
A substantial amount of deferred maintenance had accumulated under the prior ownership. The property was purchased as an REO from the lender.
Substantial rehabilitation of the property was completed including upgrades to all common areas and unit interiors.
