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Raiser Organization Acquires Three Buildings

SOUTH SAN FRANCISCO-The San Mateo-based company, in a joint venture with local developer Harvey Chapman, pick up three buildings along Gateway Boulevard, where Raiser already has substantial ownership.

By Becky Bergman | Updated on December 18, 2000

SOUTH SAN FRANCISCO-Dallas-based Hines has sold three South San Francisco buildings totaling 150,000 sf to San Mateo-based The Raiser Organization and local developer Harvey Chapman for about $48 million, or $325/sf.

The buildings are located at 600 to 650 Gateway Blvd. The Raiser Organization, which focuses on commercial and senior living development acquisitions, also has agreed to purchase 630 Gateway Blvd., which Hines will complete at the end of next year. The 250-person organization, founded by the late John A. Raiser and now managed by his children – Phillip and Jennifer – owns 700,000-sf with another 1 million under management. Hines develops and manages a portfolio that includes corporate headquarters, mixed-use centers, industrial complexes, and master-planned resort and residential communities.

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