SAN FRANCISCO-Highridge Partners of Los Angeles has expanded its San Francisco portfolio with the $37.7 million acquisition of 550 Kearny St., a 196,000-square-foot, 10-story office building that includes 9,700 square feet of ground-floor retail. Highridge and San Francisco-based Montgomery Capital Partners acquired the property via a bidding competition managed by the CB Richard Ellis National Loan Sale Advisory Group’s local office, led by Kurt Altvater.

The 550 Kearny building is located in the city’s financial district, three blocks from 255 California, which Highridge and Montgomery acquired in July 2010. The building previously sold for $58 million when Broadreach Capital Partners bought it in 2007, according to a report at the time.

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