Project Uris Acquires San Francisco Commercial Buildings
The firm expanded its Union Square footprint with the purchase of two properties for $15.4 million.
Updated on Oct. 28, 2026 in Commercial
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Project Uris, led by Ian Jacobs and Max Raskin, has acquired 165 Post St. and 47 Kearny St. for $15.4 million. The firm now controls seven properties across five retail corridors in San Francisco.
Why it matters
The investment vehicle aims to capitalize on undervalued real estate following the area's pandemic-era retail decline. Founders believe the district will benefit from a halo effect driven by nearby luxury retailer investments.
Project Uris has invested $46 million to acquire seven San Francisco buildings since its 2023 founding. The firm currently holds assets across Powell Street, Grant Avenue, Maiden Lane, and the recently purchased Post and Kearny street sites.
The players
Ian Jacobs
He is a founder of the investment vehicle Project Uris, which focuses on acquiring commercial real estate assets in San Francisco.
Max Raskin
A founder of Project Uris and board member of Golden Gate University, he directs acquisition strategies in the Union Square area.
Project Uris
This investment vehicle was established in 2023 to target undervalued commercial properties throughout the Union Square district.
K&H Sutter Inc.
This entity was the previous owner of the two commercial properties recently sold to Project Uris.
The details
The investment team specifically targets buildings previously held by heirs of long-term owners to secure properties featuring both ground-floor retail and office space above. These acquisitions were purchased from K&H Sutter Inc.
Timeline
2023: Ian Jacobs and Max Raskin founded Project Uris.
May 2026: Project Uris acquired a building on Maiden Lane.
July 2026: The firm acquired a building on Grant Avenue.
October 2026: Project Uris completed the purchase of 165 Post St. and 47 Kearny St.
Culture Shift
The firm utilizes an acquisition model mirroring the 1970s real estate strategy employed by the Reichmann family. By betting on urban retail corridors, Project Uris is participating in a broader cycle of long-term investment in distressed post-pandemic city centers.
The acquisition of these properties could lead to renovations and new retail tenancies in the Union Square area. Residents and shoppers may see changes to the storefronts and available businesses at the 165 Post St. and 47 Kearny St. locations.
The takeaway
Commercial real estate investors are increasingly targeting core retail districts to capitalize on lower property valuations. Property owners in similar corridors should monitor how these specific acquisitions affect local lease rates and retail tenant mix.
Further reading
For more information on current investment activity, visit the San Francisco Commercial section.
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