“Urban Green Investments invests in multi-family, commercial and entitled land real estate in California. Once a property is acquired, UGI adds value by increasing efficiencies, enhancing entitlements, and employing carefully calibrated green renovations.”
Headquarters: 1746 Union St, SF, CA
CEO: David McCloskey, age 36, lives in Sausalito, CA and possibly SF, CA
Chairman: Thomas D. McCloskey, lives in Aspen, CO and 1919 Sacramento St in San Francisco. David’s father.
President, and Co-founder: Peter Lynch.
Lawyer: Michael Karpowicz. Married to Devon McCloskey, David’s sister.
* Urban Green Investments is a subsidiary of Cornerstone Holdings LLC based in Broomfield, CO. CEO is Thomas D. McCloskey.
San Francisco Multi-family portfolio: 385 units over fifteen buildings.
Recently purchased since October 2012: 130 unit multi-family portfolio in San Francisco and 40 TIC units in San Francisco.
In July 2012 UGI picked up a 12-building multifamily portfolio for $38 Million cash from Prana Investments.
Using a number of LLCs, UGI is currently displacing residents from the following buildings:
1070 Post St. (6 units) - Ellised on 1/31/13 by 1070 Post Street, LLC. Petition L130141
49-53 Guerrero St. (3 units) - Ellised on 5/17/13 by 49 Guerrero Street, LLC. Petition: L130760
55 Dolores St. (5 units) Ellised on 4/8/2013 by 55 Dolores Street, LLC. Petition L130542
566-576 Lombard St. (14 units) - Ellised 2/4/13 by 566 Lombard Street, LLC and 568 Lombard Street, LLC. Petition L130157
1330 Mason St. (8 units) - Tenants cajoled out and sold units as TICs
943 Jackson St. (12 units) - Sold off after some tenants left.
1071-77 Treat St. (4 units) - Only one tenant remaining after all the others were bought or harassed out.
Thomas D. McCloskey, Chairman & CEO of Cornerstone Holdings (CO) and McCloskey and Company (HI), and Chairman of UGI (SF), has served as general partner in over 50 partnerships and been involved in a variety of diverse business activities, and high-level strategic development of technology companies and wireless communications markets for the past thirty years.
Bonnie P. McCloskey, partner of Tom at Cornerstone Investments,
and David’s mother, gave over $50k to McCain Palin race, and then Romney.
Peter Lynch, cofounder of UGI and UGI President, did 3 Ellises in 1999 under his own name or as Lynch Associates
* A limited liability company (LLC) is a flexible form of enterprise that blends elements of partnership and corporate structures. A LLC is not a corporation; it is a legal form of company that provides limited liability to its owners in the vast majority of United States jurisdictions.
