March 11, 2016
The Transbay Joint Powers Authority agreed to sell Parcel F for $160 million to F4 Transbay Partners LLC. The group is a joint venture of Hines, Urban Pacific and the Goldman Sachs real estate fund Broad Street Real Estate Credit Partners.
Parcel F, which is zoned for a 750-foot tower, is the last remaining site in San Francisco available to erect a super-tall building. It is also the final parcel with a direct connection to the Transbay Transit Center Rooftop Park.
The developer proposed a mixed-use tower, containing as many as 300 hotel rooms, 200 residential units, and up to 425,000 square feet of office space. The deal is expected to close by summer of this year, and is the third attempt by the transit authority to sell the parcel.