Exclusive Silicon Valley Investment Opportunity
Prime Office-to-Luxury Townhome Conversion
25.6%
Projected IRR
1.78x
Equity Multiple
33mo
Project Hold
Still Property Group presents Pioneer Vista Townhomes, a premium adaptive-reuse development strategically located at 2015 Pioneer Court, San Mateo, CA. This project transforms a former office space into 10 luxury townhomes, each offering:
Each townhome will feature:
✔️ Private Rooftops with San Francisco skyline views
✔️ Elevators in every unit
✔️ 4-5 Bedrooms | 3.5 Baths | 2-Car Garages
✔️ In-Law Suites & Premium Finishes
Executive Summary
Investment Snapshot
Total Project Cost
$15.97 Million
Projected Exit
$23.2 Million
Avg Unit Sale Price
$2.48 Million
Timeline
First closings - 24mo
Sell out - 33mo
Prime Location
1/2 mile from Caltrain, major tech hubs, and downtown San Mateo
Why Invest in Pioneer Vista Townhomes
Proven Model
SPG successfully exited a 38-unit project just 2 blocks north in 2024
Strong Returns
Projected investor returns of 25.6% Net IRR and 1.78x multiple
Experienced Sponsor
SPG has completed over $500M+ in conversion projects nationwide
Luxury at Scale
10 exclusive elevatored townhomes with private rooftops
High Demand Market
Silicon Valley's luxury housing for families remains supply-constrained
Attractive Financing
65-80% loan-to-cost senior debt secured at favorable terms
Fully Permitted
Residential zoning and necessary waivers secured, strong market exit strategy
Short Term Hold
33-month investment commitment with phased sellouts
Market & Location Advantages
Thriving Tech Economy
Silicon Valley attracted $90B in VC (2024), with substantial AI industry growth.
Affluent Demographics
Median single-family home price exceeds $2.5M in San Mateo County.
Convenient Connectivity
Walkable to Caltrain, major highways, Downtown San Mateo restaurants and amenities.
Proximity to Employers
Oracle, Facebook, Visa, Sony, and Electronic Arts nearby.
Investment Summary
| Key Metric | Details |
|---|---|
| Project Address | 2015 Pioneer Court, San Mateo, CA |
| Project Type | Luxury Office-to-Residential Conversion |
| Number of Units | 10 Luxury Townhomes |
| Investment Duration | 33 months |
| Total Equity Requirement | $5.5M (90% LP, 10% GP) |
| Projected Returns (LP) | 25.6% IRR, 1.78x Equity Multiple |
| Senior Debt Terms | Non-recourse, Interest-only, 65%-80% LTC |
Request the Offering Memorandum
Complete the simple form below to get the OM for The Pioneer Vista Townhomes Investment Opportunity emailed directly to you.