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October 18, 2017
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Align Real Estate and Vanke Holdings USA Spend Around $100 Mil on Two San Francisco Office Properties

3/09/17

A joint venture of San Francisco-based Align Real Estate and Vanke Holdings USA has acquired two office buildings in San Francisco in a deal valued near $100 mil. The buildings, totaling 130k sf, are located at 657 and 667 Mission St, between 3rd St and New Montgomery St in the South Financial District of San Francisco.

The buildings are currently 65% occupied with short term leases, allowing the new owners the flexibility to reposition the buildings as Class A creative office space with premier ground floor retail fronting Mission Street. Theyre situated just 1.5 blocks from the Montgomery BART station, one block from the new Transbay Transit Center, and are also directly behind the San Francisco Museum of Modern Art

Brad Zampa, Michael Walker and Megan Woodring of CBREs Debt & Structured Finance group originated $70 mil in acquisition financing for the transaction. Together with financing the acquisition of the buildings, the loan provides funding for their complete renovation as well as anticipated future leasing costs.





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