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SAN FRANCISCO-Barker Pacific Group and Prudential Real Estate Investors have formed a joint venture to assume ownership of the 739,000-square-foot class-A One Sansome Street tower, also known as Citigroup Center, with plans to enhance management services and make significant improvements to the public areas of the building, the JV says. BPG, which is acting as the property manager, took ownership of the property in a joint venture with Pru after former owner Broadway Partners turned the building back over to its lender—Prudental.

The 43-story building, recently certified as LEED Gold, is 75% leased, leaving 148,000 square-feet of space available for new tenants. BPG and PREI say that they “plan to bring new life to the building’s conservatory space, long enjoyed by many in the financial office district.” Initially, the owners also plan to renovate and update the building’s lobby. BPG has already begun issuing proposals to prospective tenants and expects to secure several multi-floor leases to occupy the vacant space in the 10 upper floors of the building.

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