June 24, 2016
An investment subsidiary of Beijing, China-based HNA Ecological Technology Group Co., Ltd., acquired 123 Mission St., a 28-story office building in San Francisco, for $255 million from Hong Kong-based Great Eagle Holdings Ltd.’s wholly-owned subsidiary Pacific Eagle Real Estate Fund, L.P. The sales transaction is expected to close in August.
The 95% occupied Class A asset, located in the South Financial District, contains 346,000 square feet and was built in 1986. In 2013, Great Eagle Holdings acquired 123 Mission St. and land rights for $195 million from Sumitomo Corp. of America.
Through its subsidiaries, HNA Ecological Technology Group offers cloud computing, big data, intelligence, cross border free-duty e-commerce, and electronic payment services.
Earlier this year, HNA bought Ingram Micro, a business-to-business company in the technology industry, for $6 billion.