SAN FRANCISCO—Global real estate investment and services firm Kennedy Wilson has been awarded the property management contract for 555 Montgomery Street, an 18-floor, class A office building located in the heart of San Francisco’s financial district.
“San Francisco is clearly a destination of choice given its vibrant business community however there is a great deal of competition,” said Donna Clark, senior managing director of Kennedy Wilson’s Properties Group in Northern California. “As a result, how a property is managed plays a key role in a building’s success. Due to the location of 555 (near major business districts as well as the wharf among other local attractions) there is no doubt that this will be the building of choice for major companies seeking to expand business practices in a prime environment.”
In addition to East West Bank, the building is home to a number of well-known financial services firms, legal services and market research firms including The Guardian Life Insurance Co., The New York Times, US Capital Partners LLC, DHC USA, Inc. and Taipei Economic & Cultural Office.
Built in 1984, the 18-story structure features floor-to-ceiling windows that showcase views of the city and the bay. Owned by East West Bank, the 261,839-square-foot tower has maintained an Energy Star rating since 2005. It offers office spaces ranging in size from 1,200 square feet to 14,000 square feet, as well as 24-hour on-site security services.
Kennedy Wilson to Manage 555 Montgomery
SAN FRANCISCO—Anchored and owned by East West Bank, the 18-story class A office property is also home to several financial institutions.
CHICAGO—The aging of American baby boomers should ensure that US growth in senior care facilities stays above the average for developed countries.
DALLAS—That being said, Transwestern’s Tom McNearney says the reclassification of real estate as a separate category is expected to bring $100 billion of inflows from equity funds into the REIT sector.
CHICAGO—The moderating trend in total returns continued in the second quarter on a steady income return and slowing appreciation, NCREIF said Tuesday.
WASHINGTON, DC—A gamified tool highlights the many trade-offs a low-income housing developer must make to push a project across the finish line. New compliance, while perhaps necessary, will make the process that much more difficult.