ClearRock Properties (Prima’s predecessor) and its capital partner acquired a 34,000-SF flex/warehouse building – as part of a covered land play – with the intention of entitling the site, razing the existing structure and constructing a mixed-used project. After the closing, ClearRock secured a prominent developer (Foulger-Pratt) who, along with ClearRock’s existing capital partner and another family office investor, entered into a new joint venture pursuant to which ClearRock and Foulger-Pratt are jointly managing the project’s development. Completed in 2021, the project consists of an 11-story tower totaling 356 apartment units and 20,000 SF of street-level retail space.