Arthaus, Belay Expand into San Francisco with Nob Hill Acquisition
ArtHaus Partners, in partnership with Belay Investment Group, has acquired The Terraces, a 117-unit multifamily property in San Francisco’s Nob Hill neighborhood. The $25-million acquisition equates to a purchase price of $212,000 per unit and $270 per gross square foot, representing an attractive basis for entry into the San Francisco market.
The acquisition marks ArtHaus Partners’ expansion into San Francisco, positioning the firm to capitalize on strengthening fundamentals, including accelerating rent growth, leasing velocity, and city-wide economic resurgence. Under its former name, Riaz Capital, Arthaus operated in San Francisco more than a decade ago. The Terraces acquisition marks a return to San Francisco for the company, and a first for the ArtHaus brand.
Arthaus had been tracking the value-add Terraces acquisition opportunity since 2024. “This milestone holds personal significance for me as a San Francisco native,” said Riaz Taplin, CEO of ArtHaus Partners. “We thank our partners at Belay Investment Group for their confidence in our vision to elevate workforce housing across the Bay Area.”
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