GTIS Partners and GreyBrick Partners Acquire 67-Unit Wilson Multifamily Asset in San Francisco's SoMa
GTIS Partners and GreyBrick Partners have acquired The Wilson, a 67-unit multifamily property at 973 Market Street in San Francisco's SoMa neighborhood, the firms announced July 28. The transaction marks the ninth acquisition by a strategic joint venture the two firms formed to acquire and reposition small-scale multifamily properties in downtown San Francisco neighborhoods.
To date, the venture has assembled 193 units across nine multifamily buildings.
Property Overview: A Historic Building Modernized for Urban Renters
The Wilson is a seven-story mixed-use building originally designed by San Francisco architects Percy & Polk in 1904. The property was comprehensively redeveloped in 2014 into a modern residential community while preserving its historic character. The building features 67 apartments above approximately 2,000 square feet of ground-floor retail space.
Amenities include a rooftop terrace with outdoor kitchen and lounge, fitness center, resident clubhouse and co-working space, bicycle storage, package room, dog run, and building-wide Wi-Fi. The property sits along Market Street between Fifth and Sixth Streets, providing immediate access to Powell Street BART and Muni stations and proximity to major employment centers, entertainment venues, and retail destinations.
Joint Venture Strategy: Small-Scale Infill Acquisitions at Scale
The GTIS Partners–GreyBrick Partners venture was established to acquire well-located multifamily assets at what the firms describe as an attractive point in San Francisco's market cycle. The strategy centers on small-scale, transit-oriented residential properties in desirable downtown neighborhoods, combining GTIS Partners' institutional investment platform with GreyBrick Partners' local acquisition, leasing, and asset management capabilities.
The partners plan to execute a targeted capital improvement program at The Wilson focused on enhancing common areas, modernizing select building systems, and repositioning the vacant ground-floor retail space with a neighborhood-serving tenant.
"We are excited to continue this strategic partnership with GreyBrick and expand GTIS' residential investment strategy in one of the country's most compelling multifamily markets," said Thomas M. Feldstein, General Counsel and Chief Operating Officer of GTIS Partners. "San Francisco is entering the next phase of its recovery, supported by renewed employment growth, increasing office utilization, and an exceptionally constrained supply environment. Today's market presents a rare opportunity to acquire well-located multifamily assets at an attractive basis while positioning the portfolio to benefit from improving fundamentals over the long term. GreyBrick's deep local relationships and operating expertise make them an outstanding partner as we build this platform together."
Bryan Baskin, Co-Founder of GreyBrick Partners, said: "The Wilson exemplifies the type of opportunity our team has focused on for more than a decade—well-located San Francisco multifamily properties where thoughtful operations, targeted capital improvements, and exceptional resident service can create meaningful long-term value. We are excited to partner with GTIS to build a portfolio that combines GTIS' institutional investment discipline with GreyBrick's local acquisition platform, operational expertise, and deep market relationships."
San Francisco Market Context: Supply Constraints and AI-Driven Demand
GTIS Partners and GreyBrick Partners cite several factors underpinning their San Francisco investment thesis: improving apartment fundamentals, historically constrained new multifamily supply, and demand increasingly supported by the city's expanding artificial intelligence ecosystem and growing return-to-office trends.
New multifamily supply in San Francisco remains structurally limited by high entitlement and construction costs, community opposition to new development, and tighter financing conditions. That dynamic reduces competitive supply pressure on existing, well-located assets over the medium term.
San Francisco and the broader Bay Area have emerged as primary hubs for AI companies, with a concentration of AI startups and established firms leasing space in SoMa and the Mid-Market corridor. The Wilson's location at 973 Market Street places it directly within that corridor, within walking distance of major employment nodes and transit infrastructure that serves the city's knowledge-economy workforce. The property's amenity package—including co-working space and building-wide Wi-Fi—is tailored to hybrid-work lifestyles common among technology and AI-sector tenants.
About the Firms
GTIS Partners is a global real estate investment firm headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Charlotte, Phoenix, Dallas, Houston, Savannah, and Munich. Founded in 2005, the firm manages $5 billion in gross assets across single-family and multifamily housing, office, industrial/logistics, hospitality, and opportunity zone investments. In the United States, GTIS Partners has invested in more than 240 assets across nearly 50 markets. The firm is managed by President and Founder Thomas M. Shapiro and partners Robert Vahradian, João Teixeira, Tom Feldstein, Ed McDowell, Robert McCall, Peter Ciganik, and Maristella Val Diniz.
GreyBrick Partners is a San Francisco-based real estate investment and operating company specializing in the acquisition, repositioning, and asset management of multifamily properties throughout the Bay Area. Founded by Bryan Baskin and Ryan Taylor, the firm's principals have acquired more than 55 properties across the Bay Area, with a particular concentration in San Francisco multifamily.
