Meg Whitman Real Estate Investment Group Buying into SF Waterfront
The southern waterfront of San Francisco is very prized territory for the new wave of major developments cropping up around the city. One of the more valuable prizes is the 21-acre Potrero Power Plant site which was just bought by a surprisingly small, nimble investor group that is led by Associate Capital. The group also includes Meg Whitman, CEO of Hewlett Packard Enterprise and chairwoman of HP Inc., and her husband, neurosurgeon Griffith Harsh IV – according to an article in bizjournals.com.
The investor group (that beat out 10 other more well known groups) for the property clearly shows a new trend of the super rich getting involved in large real estate investment deals. Chris Foley, a condo marketing and research expert, made this observation of the ultra rich: “Ultra high-net-worth investors, from the tech industry and beyond, are looking for investments that might generate better returns than venture capital or the stock market.”
Super rich clients can put anywhere from $100,000 to $5 million into targeted real estate development with the deals providing cash flow, tax benefits and high returns compared to other investments.
The power plant property is particularly valued as that it can developed into a mixed use complex. According to Foley the power plant is “one of the last premier large-scale development sites in San Francisco.”