Prolific NYC Builder Opens First Bay Area Office

An active East Coast developer is opening its first Bay Area office and tapping a former PGIM Real Estate vice president to lead it.

Jonathan Rose Cos., has brought on Yusef Freeman to lead development and acquisitions out of the company's new Oakland office, the New York-based developer said Monday.

Both moves represent a West Coast expansion for Jonathan Rose Cos., which already has an office in Manhattan Beach, California, in addition to its established East Coast presence.

The developer, which said it wants "to regenerate the fabric of communities," also has offices in Denver and New England, among other markets. It is headquartered in New York City.

"I've been a big fan of the company from afar for about a decade and a half," Freeman told Bisnow.

Freeman comes on as managing director for California following time as a PGIM Real Estate vice president of investments. Before that, he spent 12 years with developer McCormack Baron Salazar, where he led West Coast operations and business development across the nation.

At Jonathan Rose Cos., he will lead acquisitions and development throughout the West Coast, including on surplus land of previously acquired properties in Southern California, according to Freeman.

During the coronavirus pandemic, the company has also "been actively seeking acquisitions of affordable deals for our preservation fund in California," he said.

"And we'll continue to look at RFPs on government-owned land that makes sense for us to compete for with other affordable and mixed-income developers," he said.