December 4, 2019
Columbia Property Trust reports it is under contract to acquire 201 California Street, a 272,000-square-foot, Class-A office tower in San Francisco’s Financial District, from Beacon Capital Partners for $239 million, exclusive of closing costs. The acquisition is expected to close by year-end.
“We now have greater clarity on the timing and execution of several significant transactions in our portfolio, which allows us to provide preliminary guidance for our earnings expectations for the year ahead,” said Nelson Mills, CEO of Columbia in a statement. “We are very pleased to be putting the proceeds from our dispositions to work by adding another exceptional asset to our San Francisco portfolio.”
Located at the corner of California and Front Streets, the 17-story building has been substantially renovated and is 97% leased to multiple tenants, the largest of which are First Republic Bank, Dow Jones, and the law firm Cooper, White and Cooper.
*Photo: Courtesy of Eastdil Secured
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