TWO RESIDENTIAL SITES SELL FOR $41.4 MILLION

SAN FRANCISCO — Two residential sites in San Francisco called Block 5 and Block 11, located on 3.84 acres in the Mission Bay neighborhood, have sold for $41.4 million. Block 5 and Block 11 represented the last two market-rate residential development sites available in Mission Bay. The buyer was San Francisco-based BRE Properties. Stan Jones, Phil Saglimbeni and Sal Saglimbeni of Institutional Property Advisors' Palo Alto, Calif., office represented the seller, San Francisco-based FOCIL-MB, in the transaction.