SAN FRANCISCO, June 02, 2026 (GLOBE NEWSWIRE) — ArtHaus Partners, in partnership with Belay Investment Group, has acquired The Terraces, a 117-unit multifamily property in San Francisco’s Nob Hill neighborhood, at a purchase price of $212,000 per unit and $270 per gross square foot, representing an attractive basis for entry into the San Francisco market. This acquisition marks ArtHaus Partners’ expansion into San Francisco, positioning the firm to capitalize on strengthening fundamentals, including accelerating rent growth, leasing velocity, and city-wide economic resurgence.
The Terraces Apartments, Nob Hill, San Francisco, CA
Transaction Details and Business Plan:
ArtHaus Partners closed on the acquisition of The Terraces, located at 1300-1330 Bush Street in San Francisco on Wednesday, May 27th. The Terraces, a 13-story, 117-unit apartment building, was constructed in 1975 and has a prime location one block off the Polk Street retail corridor in the Lower Nob Hill neighborhood. The rent-controlled building contains 17,000 sqft of ground-floor vacant retail space with 30 dedicated parking spaces and 55 additional parking spaces for the residential portion. ArtHaus plans to perform several upgrades to the property, including a structural retrofit, exterior aesthetic improvements, in-unit renovations, common area cosmetic improvements, and the implementation of the ArtHaus brand to reposition the asset.
Acquisition:
ArtHaus was well-equipped to execute on the acquisition of the Terraces. ArtHaus has been tracking this rare San Francisco value-add opportunity since early 2024 and has developed a cost-effective structural retrofit solution leveraging in-house and third-party retrofit expertise. ArtHaus and Belay were ultimately awarded this asset following a formal marketing process.
ArtHaus Partners, formerly Riaz Capital, previously operated in San Francisco over a decade ago. This acquisition marks a return to San Francisco for the company, and a first for the ArtHaus brand.
“With the acquisition of The Terraces, we’re proud to bring the ArtHaus brand to San Francisco, following its strong rollout across our East Bay properties over the last year and a half. This milestone holds personal significance for me as a San Francisco native. We thank our partners at Belay Investment Group for their confidence in our vision to elevate workforce housing across the Bay Area,” said Riaz Taplin, CEO of ArtHaus Partners.
“Belay is pleased to announce this acquisition through its partnership with a true market and sector specialist like ArtHaus, and we believe the opportunity represents a compelling fit within our attainable multifamily program given its attractive entry basis at a discount to replacement cost, favorable in-place occupancy, and strong embedded value-add potential. The asset’s location in a highly desirable infill submarket further reinforces our conviction, and we look forward to working alongside the ArtHaus team in the execution of our business plan” said Eliza Bailey, Co-Founder, CEO & CIO of Belay Investment Group.
About ArtHaus Partners
ArtHaus Partners is a Bay Area-based vertically integrated multifamily developer and operator with a specific focus on entry level housing. The company has a long track record of executing value-add transactions while navigating the Bay Area’s micro-markets and regulatory environments. With $1B in assets under management across 4,000 units in California, the company continues to pursue value-add and development opportunities across the region. Visit www.arthauspartners.com for more information.
About Belay Investment Group
Belay Investment Group, LLC is an institutional real estate investment management firm that is at the forefront of providing scalable access to small-scale real estate. The Firm does this through programmatic partnerships with locally entrenched and specialized operators with exclusive deal flow and “on-the-ground” market insights throughout the US. Belay pursues investment opportunities across the risk spectrum, property types, and geographies, including both debt and equity, offering its clients unique access to these alpha generating real estate opportunities. Visit www.belayinvestmentgroup.com for more information.
Media Contact:
Bryan Cullen
Associate Vice President – Investor Relations and Partnerships
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2dcfa61a-b82a-48a5-8b5d-78ee1d605d44
