Michael Halow Of Premia Capital And Chase Rapp Of Prince Street Partners Buy Office In Palo Alto For $14M

The property asset involved in the transaction is an office located at 490 California Avenue in Palo Alto. The sale price of the property was $14,000,000. The buyers intend to convert the property into a venture capital hub as part of their strategy in light of the South Peninsula market's early signs of recovery.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $14,000,000
• Buyer: Michael Halow - Premia Capital; Chase Rapp - Prince Street Partners
• Seller: Shaul Kuba, Richard Ressler & Avi Shemesh - CIM Group
• Date of Transaction: 09/11/2025
• Address: 490 California Avenue
• Market: Palo Alto

The deal involved Michael Halow from Premia Capital and Chase Rapp from Prince Street Partners as the buyers, who acquired the property from sellers Shaul Kuba, Richard Ressler, and Avi Shemesh of CIM Group. Notably, the property was purchased at a 58% discount from its 2018 purchase price, indicating a significant shift in its market valuation.