SANTA ROSA -- Atlanta-based property and casualty policy carrier ProSight Specialty Insurance plans to hire about 150 employees for a new Santa Rosa office.
ProSight signed a five-year lease with Basin Street Properties for 15,400 square feet of class A office space at Fountaingrove Executive Center in northeast Santa Rosa.
Backed by TPG Capital and Goldman Sachs' GS Capital Partners, ProSight last month announced a deal with publicly traded marine insurer NYMagic to acquire the company in a stock deal valued at about $230 million. It is set to close in the fourth quarter.
The ProSight deal caps 30,000 square feet in recent leases and lease expansions in Basin Street Properties' North Bay portfolio, according to Scott Stranzl, vice president of leasing.
“We’ve leased more than 30,000 square feet of office space in the last few months, which is certainly a positive indicator of market conditions,” he said. “We are excited to see new companies come to town, such as Prosight, to help stimulate the local economy.”
Shawn Johnson of Keegan & Coppin represented ProSight in the lease deal.