Strategic & Disciplined
REAL ESTATE INVESTMENT
Founded in 2010 in San Francisco, Cannae Partners is a value-added, Bay Area real estate developer and investor. Changing market perceptions, fluctuating investment climates and evolving tenant demands force us to be creative about product type and risk profile, but what doesn’t change is our passion to identify and invest in the best risk-adjusted real estate projects available.
WHAT WE DO
Cannae Partners leverages strong local relationships, creative deal structuring and a deep understanding of local real estate to generate superior returns for itself and its investors. Favoring a rifle over a shotgun, Cannae prefers doing a few great deals instead of a multitude of mediocre ones. Cannae is thoughtful in its strategy while being exacting in its execution. Through disciplined project selection, thoughtful bidding and hands on management, Cannae works to deliver above standard results on every project undertaken.
Across asset types and strategies, Cannae relies on a strict value-first approach to deal analysis.
INVESTMENT FOCUS
Cannae endeavors to pursue specialized buildings with above standard infrastructure, or the rare ability to add that infrastructure, to house cutting edge science and technology companies.
ADVANCED SCIENCES & RESEARCH
VALUE-ADD REAL ESTATE
Strong local knowledge, creative structuring and well-established relationships enable Cannae to better assess value, bid more astutely and in many cases acquire assets off market at attractive prices.
HISTORIC REDEVELOPMENT
Cannae respects the history of the Bay Area and how that story interacts with the built environment. When possible, Cannae marries creative, amenity rich real estate development while honoring and restoring classic historical architecture.
Cannae has purchased more than 1.8 million square feet of Bay Area real estate and realized shared profits in excess of $120 million. Cannae has successfully partnered with some of the largest and most well known firms in banking, insurance, and private equity.
PHILOSOPHY
Cannae’s belief is that great investments can always be found through deep local knowledge, strong relationships, careful analysis, creative deal structuring and hard work. And once acquired, assets must be run efficiently and value added quickly. However, strong investment returns are only one aspect of our philosophy. What is also paramount is working with integrity, treating our employees, partners and counter parties with respect and doing what we say we are going to do.
ABOUT CANNAE PARTNERS
Cannae Partners was formed by Bay Area natives, Bob Basso and Jamin Seid to pursue local, value-add real estate opportunities. Bob and Jamin met as classmates at the Haas School of Business and later reconnected in San Diego while working at an opportunistic real estate fund, sourcing investments across the U.S. The unfolding financial crisis created the perfect moment for the two of them to recommit to their Bay Area roots and embrace their entrepreneurial spirit. In 2010, Jamin and Bob founded Cannae Partners and together with a large financial services company acquired their first asset in San Jose.
Cannae Partners identifies and acquires mispriced assets where the risk-adjusted returns to ownership are advantageous. We utilize strong local networks, time-honored experience, and a creative approach to unlock inherent value.
FEATURED PROJECTS
ADVANCED SCIENCES
3011 N. First St.
As Covid’s impact was becoming clear, Cannae sought out highly specialized assets that would thrive in this new real estate paradigm. Cannae’s history with these types of assets as well its network of professionals who traffic in these buildings, allowed it to acquire 3011 N First St, a 150k sf materials research facility, off market. The quality and quantity of unique infrastructure made a renewal extremely likely. Cannae executed a long-term extension with a 70%+ increase in rental rate.
TRADITIONAL REAL ESTATE
2125 O’Nel Dr.
When green shoots were starting to emerge from the financial crisis, Cannae targeted assets that could be purchased at aggressive pricing that still possessed competitive advantages. Cannae identified a corporate-owned asset that had lingered on the market. The process required a creative structure that would allow the seller to achieve their pricing objective while allowing Cannae to take advantage of the recovering leasing market. After a light market-ready, Cannae leased the building to a publicly traded company, creating value for itself, its partners and the seller.
HISTORIC REDEVELOPMENT
1019 Market St.
The technology revolution happening in San Francisco and Mid-Market specifically was clear to Cannae. Cannae identified a historically significant, brick and timber building mired in a complex sales process. Cannae saw through the chaos, the month-to-month rent roll and the significant renovation required and envisioned a corporate headquarters building. Cannae creatively mediated the dispute between the various parties, outmaneuvered competitors and purchased the building. Cannae partnered with the City of San Francsico in relocating the existing tenancy, completely rebuilding and reimagining the infrastructure and appearance of the asset – while retaining its historic charm. The building was quickly leased to a publicly traded company as their new headquarters and the transaction was awarded by San Francisco NAIOP as the Investment of the Year.
THE STORY OF CANNAE
The battle of Cannae in 216 BC is one of the most famous battles in ancient history both for its tactical achievement and impossible odds.
Here at Cannae we look to this historical event for inspiration. On the one hand, Hannibal’s unprecedented victory shows us what’s possible through methodical planning and execution. On the other, Rome’s grit reminds us that with determination the inevitable adversity of any venture can be overcome.