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9/04/25
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TMG Partners, in partnership with Bridges Capital LLC, has acquired 149 New Montgomery Street, a Class A, 80k sf office building in San Francisco’s South Financial District. TMG acquired the mortgage loan from U.S. Bank as trustee last month and has now acquired the property through a deed in lieu of foreclosure. The price was not given out.
The six-story office building located in the city’s New Montgomery corridor. Originally constructed in 1907 with floors five and six added in the 1930s, the building houses high-tech companies with retail shops at street level, including restaurant Café Madeleine.
“We believe this submarket will continue to be in high demand from tech, AI and professional services firms due to its exceptional location blocks from Market Street, Salesforce Transit Center and Yerba Buena/Moscone Center, with multiple transit nodes within a four-minute walk,” said TMG Partners President and Chief Investment Officer Ben Kochalski. “We are planning renovations to enhance the creative office elements of this brick and timber building while preserving its architectural charm.”
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