SAN FRANCISCO—Investment fund,Multi-Employer PropertyTrust, has acquired a 20-story 358,591-square-foot officetower at 600 California St in San Francisco for $216.5 million. Theseller was Clarion Partners.
The property is a class A, LEED Gold-certified office propertylocated in the North Financial District of San Francisco at thecorner of California and Kearny Streets. Building construction wascompleted in 1990 and the property was significantly upgraded in2006.
“600 California St. is a great fit with MEPT's portfolio and theacquisition increases the fund's investment commitments in the BayArea to over $929 million in existing assets and new developments,”says David Antonelli, EVP and MEPT portfoliomanager at Bentall Kennedy. “The transactionadvances our core strategy to acquire energy-efficient, urbanassets in innovation markets with strong employment trends andsolid demand growth.”
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