EisnerAmper California Real Estate: The Battle of the Bay
The real estate industry in California is largely driven by the Bay Area's global technology hub, Silicon Valley. As the number of new technology firms grows in a flourishing industry, so does the need for appropriate office property, incepting a 'Battle of the Bay' between San Francisco, San Jose and Oakland.
Private equity real estate (PERE) deals in California have grown year on year, with office deals accounting for the largest number of PERE deals across each city over the past seven years. With increasing demand for office space pushing San Francisco to its physical limits, data from Preqin Pro shows that PERE deal activity in Oakland and San Jose has increased considerably in the past two years.
To explore this changing PERE landscape, Preqin has partnered with global professional services firm EisnerAmper to produce California Real Estate: The Battle of the Bay.
The report provides the latest PERE deal activity figures for each of the Bay Area hubs, and explores the role of Qualified Opportunity Funds within the Bay Area, which provide investment opportunities in properties situated in lower-income communities. As the largest market in the Bay Area, San Francisco contains a large proportion of Opportunity Zones, representing an untapped wealth of investment opportunity.