A block of six buildings in the East Village that was the site of clothing entrepreneur Isaac Ratner‘s original manufacturing plant is being renamed “The Ratner” in his honor.
Ratner began making caps and later suits and sport coats in one of the buildings on the block in the 1920s, and the business grew into the largest clothing manufacturer west of the the Mississippi River. The company later acquired the iconic Hang Ten sportswear line and marketed it worldwide.
Paragon Real Estate Investments, a privately held company that invests in creative office properties in urban markets, purchased the landmark block a year ago for $34 million from Carleton Management and the Gordon Bishop family.
“We knew the building had a fascinating history, but frankly didn’t realize the contributions of Isaac Ratner and his family to San Diego. He not only built a very successful company, but his children and grandchildren have been incredibly active philanthropists in the community. We thought naming the project ‘The Ratner’ would be a great tribute to the family legacy,” said Roberto Jinich, co-founder of Paragon.
The Ratner family created a multi-generational legacy of philanthropy, contributing to the arts, health, education, science, social services and Jewish charities.
Real estate needed for Ratner’s factories became the basis of a growing property investment sideline. When the clothing business was sold in 1989, the properties became Carleton Management, which is led today by CEO Jeff Silberman.
“We were thrilled with the decision to name the building after the Ratner family,” said Silberman. “The family was a pioneer and visionary in the East Village who understood that East Village was the next frontier downtown.”
The block, bounded by Park Boulevard, 13th Street, F Street and G Street, is known as the Art Center Block and is home to the NewSchool of Architecture & Design. It’s located in the developing IDEA District.
“Paragon is a long term holder of real estate. We saw the potential here to create significant value, by embracing the unique characteristics of this historic property, and breathing new life into it,” said Tanya Cravero, asset manager for Paragon.