And The Owner – IS?

And the owner is………….? It says Enrique Landa is the owner. But, Paul Hastings and his attorneys want a copy of the Deed. I have contacted four of these people. Not bad! I might have to talk to an attorney to see what a Delaware LLC is. Paul Hastings just moved to the top of the tallest building in SF at 101 California Street, which might be a clue why the California Barrel Company name was chosen. Is Paul looking for – more room? How about more money?

Prior to the date that is 30 days after the Effective Date to:

California Barrel Company LLC c/o Paul Hastings LLP 55 Second Street, 24th Floor San Francisco, California 94105 Attn: Charles V. Thornton

Hmmmmmmmmmm!

And the winner is…………….Seth Zachary for his role in Wise Guys Three!

Ah oh! What is that building out his window? Looks, old.

 

STOP! I made a mistake! The real owner is……….MEG WHITMAN!

Sorry Seth! I opened the wrong envelope. But, isn’t Thornton still with Paul Hastings? Am I going to have to break The Bird into pieces?

The buyers are a partnership led by Enrique Landa and Charles Thornton, with backing from investors including the Whitman-Harsh Family Office.

Landa worked on the renovation of the historic Swedish American Hall and worked on 99 Rausch St., a 112- unit, mixed-use development that is under construction. Thornton is a former partner and head of the real estate practice for law firm Paul Hastings who worked on high-profile projects including Mare Island, Hunter’s Point, Candlestick Point and Treasure Island.

 

http://docs.ppsmixeduse.com/ppp/DEIR_References/2016_0926_cbc_declarationofcovenants.pdf

FIDELITY NATIONAL TITLE COMPANY :;.__ ‘0 7& &7(p

RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO:

CALIFORNIA BARREL COMPANY LLC 1201-A Illinois Street San Francisco, California 94107

APN: 4175-002, 4232-001, 4232-006 and 4175-017 (formerly a portion of Lot 006) Address: 1201-A Illinois Street ,’Otln ‘1-c.\V’I C\~to1 CA. ‘\4 Hq c.:,·~~

Space Above For Recorder’s Use

DECLARATION OF ADDITIONAL COVENANTS, CONDITIONS AND ENVIRONMENT AL AND LAND USE RESTRICTIONS

This DECLARATION OF ADDITIONAL COVENANTS, CONDITIONS AND ENVIRONMENTAL AND LAND USE RESTRICTIONS (this “Declaration”), dated as of September 2.6 , 2016 (the “Effective Date”), is made by CALIFORNIA BARREL COMPANY LLC, a Delaware limited liability company (“Declarant”), as owner of certain real property located at 1201-A Illinois Street, San Francisco, California, and more particularly described in Exhibit A attached hereto and by this reference made a part hereof (the “Potrero Site”)

7.4 Notices. All notices, requests, demands and other communications under this Declaration must be in writing and must be delivered in person or sent by certified mail, postage prepaid, or by overnight delivery, and properly addressed as follows:

If to Covenantee:

NRG Potrero LLC 100 California, Suite 650 San Francisco, CA 94111 Attention: Peter Landreth, Senior Director, Business Development

With a copy to:

NRG Energy, Inc. 804 Carnegie Center Princeton, NJ 08540 Attention: General Counsel

If to Declarant:

Prior to the date that is 30 days after the Effective Date to:

California Barrel Company LLC c/o Paul Hastings LLP 55 Second Street, 24th Floor San Francisco, California 94105 Attn: Charles V. Thornton

With a copy to:

Paul Hastings LLP 55 Second Street, 24th Floor San Francisco, California 94105 Attn: David A Hamsher, Esq.

LEGAL_US_W # 86960329.2

Page 5

On or after the date that is 30 days after the Effective Date to:

California Barrel Company LLC 1201-A 1 llinois Street San Francisco, California 94107 Attn: Charles V. Thornton

With a copy to:

Paul Hastings LLP 55 Second Street, 24th Floor San Francisco, California 94105 Attn: David A Hamsher, Esq.

http://docs.ppsmixeduse.com/ppp/DEIR_References/2016_0926_cbc_declarationofcovenants.pdf

John Ambrose <braskewitz@yahoo.com>
To:sethzachary@paulhasting.com
Feb 22 at 1:49 PM
Dear Mr. Zachary;
I became aware of you and your amazing videos via Charles Thornton, who went to Cornell, and may have known my ex-wife, Mary Ann Thoraldsen, who lived the writer, Thomas Pynchon, and was married to David Seidler who wrote the script for ‘The King’s Speech. We are artists. I am a writer. I have been compiling the history of the Bohemians. I came upon the fact, that Associate Capitol, revived the name of the company my great grandfather was a Director of. His boss, Frederick Koster, was a member of the Bohemian Club. California Barrel Company LLC is part of the Portreo Power Station project, that Meg Whitman is behind. She has brought many film companies together in her Quibi project. I then discovered that the statues outside the Richfield building were done by Haig who was the president of the Bohemian Club. This morning I discovered this building appeared in the movie ‘Zabriskie Point’.
For two days I have looked at your video where you talk about ‘The Treading Zone’ and concluded it is a work of art. Put a flat screen in MODA ,and play this around the clock. You use a language very few people hear, or understand. We artists have our own language that we speak to or own kind. I would like to introduce the two languages, because there was a major disconnect when the Richfield building was torn down, and Haig’s statues were hauled off to a junkyard. Now, I believe Meg Whitman’s people should make an art movie, and you will be in it. Do you have a clue of what I am saying? I see you as the new Wizard of Oz. Click here, and the Journey begins.
By  – Reporter, San Francisco Business Times

The investor group coming in to buy the 21-acre Potrero Power Plant site in San Francisco surprised many in the city’s development community.

The group is led by the relatively unknown Associate Capital — but it also includes Meg Whitman, CEO of Hewlett Packard Enterprise (NYSE: HPE) and chairwoman of HP Inc. (NYSE: HPQ), and her husband, neurosurgeon Griffith Harsh IV.

Those investors beat out 10 other prospective buyers — including some bigger, more established real estate players — that also bid on the property, said Tim Maas, a broker with Colliers International who represented the seller.

“What made the offer particularly attractive to the seller was Associate Capital’s aggressiveness and how quickly they could complete due diligence and close,” Maas said. “What was important to the seller was the proceeds and timing of the transaction, not necessarily who bought it.”

The investment by the Whitman Harsh Family Office is part of a larger trend of private money pursuing real estate assets, said Chris Foley, a principal with Polaris Pacific, a condo marketing and research firm, who specializes in development sites.

Ultra high-net-worth investors, from the tech industry and beyond, are looking for investments that might generate better returns than venture capital or the stock market, he said. For that, real estate is hot.

The Power Plant drew a lot of interest from prospective buyers, Maas said, because the site sits on San Francisco’s southern waterfront in an area that is a hotbed of major mixed-used properties.

But, Maas pointed out, the site is still zoned for industrial use, is still undergoing significant environment cleanup and does not come with entitlements. It could take several years to resolve those issues and entitling any large site in San Francisco is a complicated endeavor.

The seller in the deal, Houston-based NRG Energy, had brought on District Development as a consultant to develop the site, but ultimately decided to “capitalize the asset” instead of developing it themselves, Maas said.

FmELITY NATIONAL TITLE COMPANY ;__ 3 {) 7~ ~7(,c
RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO:
CALIFORNIA BARREL COMPANY LLC 1201-A Illinois Street San Francisco, California 94107
20169K33461400024 San Francisco Assessor-Recorder Carmen Chu, Assessor-Recorder DOC 2016-K334614-00 Acct 5017-Fidelity San Francisco Monday, SEP 26, 2016 13:03:17 Ttl Pd $84.00 Nbr-0005466573 odm/RE/1-24
Space Above For Recorder’s Use APN: 4175-002, 4232-001, 4232-006 and 4175-017 (formerly a portion of Lot 006) Address: 1201-A Illinois Street 1f;)eln WP.Vlt’\~~o,CA .1:\4.\t>, e;,·~f) DECLARATION OF ADDITIONAL COVENANTS, CONDITIONS ANO ENVIRONMENTAL AND LAND USE RESTRICTIONS
This DECLARATION OF ADDITIONAL COVENANTS, CONDITIONS AND ENVIRONMENTAL AND LAND USE RESTRICTIONS (this “Declaration”), dated as of September 26 , 2016 (the “Effective Date”), is made by CALIFORNIA BARREL COMPANY LLC, a Delaware limited liability company (“Declarant”), as owner of certain real property located at 1201-A Illinois Street, San Francisco, California, and more particularly described in Exhibit A attached hereto and by this reference made a part hereof (the “Potrero Site”).
RECITALS
A. NRG Potrero LLC (operating under its former name, Southern Energy Potrero, L.L.C.), a Delaware limited liability company (“Covenantee”), purchased the Potrero Site from Pacific Gas and Electric Company, a California corporation (“PG&E”), pursuant to that certain Purchase and Sale Agreement by and between Covenantee and PG&E, dated as of November 24, 1998, as amended by that certain Amendment to Purchase and Sale Agreement, dated as of April 15, 1999, and by that certain Amendment to Purchase and Sale Agreement, dated as of January 23, 2015 (collectively, the “PG&E Purchase Agreement”).
B. Pursuant to the PG&E Purchase Agreement, PG&E required Covenantee to execute, for PG&E’s benefit, that certain Declaration of Covenants, Conditions and Environmental Restrictions dated January 27, 2015, and recorded on January 14, 2016 in the Official Records of San Francisco County, California (the “Official Records”) as Instrument No. 2016K187748 (the “2016 Restrictive Covenant”, and all of the terms, obligations and conditions set forth in the 2016 Restrictive Covenant, the “2016 PG&E Restrictions”) governing redevelopment of the Potrero Site. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the 2016 Restrictive Covenant.
C. Also pursuant to the PG&E Purchase Agreement, Covenantee (i) indemnified PG&E as to certain matters under section 6.10 of the PG&E Purchase Agreement, and (ii) agreed to post letters of credit under section 6.11 of the PG&E Purchase Agreement to secure that indemnity (collectively the “Indemnification and UC Obligations”), in each case as more particularly set forth in the PG&E Purchase Agreement.
D. Covenantee’s obligations under the PG&E Purchase Agreement and the 2016 Restrictive Covenant are guaranteed by NRG Energy, Inc. (successor-by-merger to Southern Energy, Inc.), a Delaware corporation (“NRG Energy”), an affiliate of Covenantee, pursuant to that certain Amendment to Guaranty dated as of January 27, 2015, amending and supplementing the Guaranty issued by its predecessor, Southern Energy, Inc., dated as of November 24, 1998 (together, the “NRG Guaranty”).
Page 1
LEGAL_Us_w # 86960329.2
FIDELITY NATIONAL TITLE COMPANY :;.__ ‘0 7& &7(p
RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO:
CALIFORNIA BARREL COMPANY LLC 1201-A Illinois Street San Francisco, California 94107
APN: 4175-002, 4232-001, 4232-006 and 4175-017 (formerly a portion of Lot 006) Address: 1201-A Illinois Street ,’Otln ‘1-c.\V’I C\~to1 CA. ‘\4 Hq c.:,·~~
Space Above For Recorder’s Use
DECLARATION OF ADDITIONAL COVENANTS, CONDITIONS AND ENVIRONMENT AL AND LAND USE RESTRICTIONS
This DECLARATION OF ADDITIONAL COVENANTS, CONDITIONS AND ENVIRONMENTAL AND LAND USE RESTRICTIONS (this “Declaration”), dated as of September 2.6 , 2016 (the “Effective Date”), is made by CALIFORNIA BARREL COMPANY LLC, a Delaware limited liability company (“Declarant”), as owner of certain real property located at 1201-A Illinois Street, San Francisco, California, and more particularly described in Exhibit A attached hereto and by this reference made a part hereof (the “Potrero Site”).
RECITALS
A. NRG Potrero LLC (operating under its former name, Southern Energy Potrero, L.L.C.), a Delaware limited liability company (“Covenantee”), purchased the Potrero Site from Pacific Gas and Electric Company, a California corporation (“PG&E”), pursuant to that certain Purchase and Sale Agreement by and between Covenantee and PG&E, dated as of November 24, 1998, as amended by that certain Amendment to Purchase and Sale Agreement, dated as of April 15, 1999, and by that certain Amendment to Purchase and Sale Agreement, dated as of January 23, 2015 (collectively, the “PG&E Purchase Agreement”).
B. Pursuant to the PG&E Purchase Agreement, PG&E required Covenantee to execute, for PG&E’s benefit, that certain Declaration of Covenants, Conditions and Environmental Restrictions dated January 27, 2015, and recorded on January 14, 2016 in the Official Records of San Francisco County, California (the “Official Records”) as Instrument No. 2016K187748 (the “2016 Restrictive Covenant”, and all of the terms, obligations and conditions set forth in the 2016 Restrictive Covenant, the “2016 PG&E Restrictions”) governing redevelopment of the Potrero Site. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the 2016 Restrictive Covenant.
C. Also pursuant to the PG&E Purchase Agreement, Covenantee (i) indemnified PG&E as to certain matters under section 6.10 of the PG&E Purchase Agreement, and (ii) agreed to post letters of credit under section 6.11 of the PG&E Purchase Agreement to secure that indemnity (collectively the “Indemnification and UC Obligations”), in each case as more particularly set forth in the PG&E Purchase Agreement.
D Covenantee’s obligations under the PG&E Purchase Agreement and the 2016 Restrictive Covenant are guaranteed by NRG Energy, Inc. (successor-by-merger to Southern Energy, Inc.), a Delaware corporation (“NRG Energy”), an affiliate of Covenantee, pursuant to that certain Amendment to Guaranty dated as of January 27, 2015, amending and supplementing the Guaranty issued by its predecessor, Southern Energy, Inc., dated as of November 24, 1998 (together, the “NRG Guaranty”).
Page 1
LEGAL_US_W # 86960329.2
E, Concurrently herewith Declarant is purchasing the Potrero Site from Covenantee pursuant to that certain Real Property Purchase and Sale Agreement and Escrow Instructions by and between Declarant and Covenantee, dated August 25, 2016 (as amended and as may be further amended from time to time, the “2016 Purchase Agreement”).
F. As a condition to Covenantee’s agreement to sell the Potrero Site to Declarant, Covenantee required that Declarant grant this Declaration in order to provide assurances to Covenantee that (a) the Potrero Site will be used only in a manner permitted by the 2016 Restrictive Covenant, and (b) the Indemnification and L/C Obligations (i) become a matter of public record, (ii) be recorded against the Potrero Site, and (iii) run with the land and bind all owners of the Potrero Site or any portion thereof, all as more particularly described herein.
AGREEMENT
NOW THEREFORE, in consideration of value, the receipt and sufficiency of which is hereby acknowledged, Declarant agrees as follows:

By  – Reporter, San Francisco Business Times
Updated

Associate Capital is in contract to buy the 21-acre Potrero Power Plant development site along San Francisco’s burgeoning southern waterfront.

The seller in the deal is Houston-based NRG Energy (NYSE: NRG), which had been working with District Development to craft a proposal for 3 million square feet of housing, retail, open space and research and development space.

“Without a doubt this is an unprecedented opportunity for urban infill for a spectacular location on the waterfront in a perennially desirable city,” said P.J. Johnston, a spokesperson for Associate Capital.

The site drew interest from some of the biggest names in San Francisco real estate, but ultimately the small, little-known team is poised to buy what many say is one of the most complex development sites in the city.

Join the conversation: Follow @SFBusinessTimes on Twitter, “Like” us on Facebook and sign up for our free email newsletters.

The deal is expected to close in the coming weeks, after which the new owners will delve into entitling the site.

NRG decided to put the site on the market because the firm is “an energy company, not a land developer,” said spokesperson David Knox. The company was represented by Colliers International in the deal.

The power plant is “one of the last premier large scale development sites in San Francisco,” said Chris Foley, a principal who focuses on development sites with Polaris Pacific, a condo marketing and research firm.

Related: San Francisco’s Southern waterfront readies for its transformation

The site is near several other huge mixed-use projects such as the 28-acre Pier 70, 14-acre India Basin, the proposed Warriors arena, and the Hunters Point Shipyard and Candlestick Point.

Sources familiar with the deal said that the power plant attracted interest from large, established developers such as Shorenstein Properties, Lendlease and Build Inc., which is developing the nearby India Basin si.

The buyers are a partnership led by Enrique Landa and Charles Thornton, with backing from investors including the Whitman-Harsh Family Office.

Landa worked on the renovation of the historic Swedish American Hall and worked on 99 Rausch St., a 112- unit, mixed-use development that is under construction. Thornton is a former partner and head of the real estate practice for law firm Paul Hastings who worked on high-profile projects including Mare Island, Hunter’s Point, Candlestick Point and Treasure Island.

The power plant, at 1201 Illinois St., stopped operating in 2011 and was considered one of the state’s dirtiest energy producers. PG&E sold the plant in 1996 to a firm that was later acquired by NRG. PG&E and its predecessors operated on the site going back to the 1870s.

PG&E is still in the process of remediating the site, which would have to wrap up before any new structures are built.

In the meantime, Associate Capital will likely spend years securing entitlements for a project that could take a few billion dollars to build out.

District Development had started conversations with community stakeholders to develop a proposal, but had not filed an application with the city.

Johnston said Seth Hamalian, principal of District Development, could stay on as a consultant for the new owners.

The Southern Waterfront is a hotbed of major developments, but nearby residents are frustrated with a lack of infrastructure improvements, said J.R. Eppler, president of the Potrero Boosters neighborhood group.

“To have another large development, we need a comprehensive plan to accommodate additional people moving in and out of a constrained area,” he said.

Neighbors are open to new development, especially projects that would bring new retail and services, and open up access to the waterfront along sites such as the Potrero Power Plant, which has been cut off from the public for decades.

“It’s really about the details,” Eppler said. “We understand that the site can be used in new and different ways with everything else that’s going on to provide a complete and livable neighborhood.”

 

 

About Royal Rosamond Press

I am an artist, a writer, and a theologian.
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1 Response to And The Owner – IS?

  1. Reblogged this on Rosamond Press and commented:

    The Apple. The Barrel. Icons.

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