La Caisse and Veritas Investments purchased a 21-unit apartment building in San Francisco's Noe Valley neighborhood for $9 million, or $428,571 per unit.
The four-story property at 610-660 Clipper St was built in 1964 and renovated in 1998. All units are studios with amenities including an elevator, laundry facilities, hardwood floors, and high-speed internet access.
The acquisition aligns with the investment strategies of both buyers. La Caisse, the real estate portfolio of CDPQ, holds interests in more than 1,500 buildings globally with approximately C$77 billion in gross real estate assets. Veritas Investments specializes in operating mixed-use multifamily and retail properties in major West Coast markets, with a portfolio of 193 properties comprising over 3.6 million square feet.
The seller was identified as Wayne Levenfeld, who previously acquired the property in June 2011.