ArtHaus Partners and Belay Investment Group Expand into San Francisco with Acquisition of The Terraces for $25M

ArtHaus Partners, in partnership with Belay Investment Group, has acquired The Terraces, a 117-unit multifamily property in San Francisco’s Nob Hill neighborhood, for $25 million. The property, located at 1300-1330 Bush Street, was purchased at $212,000 per unit and $270 per gross square foot, reflecting a strategic entry into the San Francisco market amid accelerating rent growth and economic recovery. The Terraces, a 13-story building constructed in 1975, includes 17,000 sqft of vacant ground-floor retail space and 85 parking spots. ArtHaus plans to upgrade the property with structural retrofits, exterior improvements, in-unit renovations, and common area enhancements, while implementing its brand to reposition the asset. The acquisition follows a formal marketing process and leverages ArtHaus’s expertise in value-add multifamily properties. ArtHaus Partners, previously known as Riaz Capital, is returning to San Francisco after operating in the city over a decade ago. The firm, which manages $1 billion in assets across 4,000 units in California, focuses on entry-level housing and value-add transactions. This deal marks its first foray into San Francisco under the ArtHaus brand. Belay Investment Group, an institutional real estate firm, partnered with ArtHaus for the acquisition, citing the property’s attractive entry price, strong occupancy, and embedded value-add potential. The asset’s location in a desirable infill submarket further supports the investment thesis. Both firms expressed confidence in the property’s ability to capitalize on San Francisco’s economic resurgence and workforce housing demand. The acquisition closed on May 27, 2026, with ArtHaus and Belay planning to execute upgrades and operational improvements to enhance the property’s appeal. The deal aligns with ArtHaus’s broader strategy of expanding its portfolio in the Bay Area while addressing housing needs in high-demand markets.