SAN FRANCISCO—Laurus Corp., a US-based privatereal estate investment and development has closed the $72.6million sale of 1155 Market St. in SanFrancisco, realizing over 56% Internal Rate of Return forinvestors.

Laurus purchased the 11-story, 140,000 rentable squarefoot office building in 2011 essentially empty, where thesingle tenant was vacating the asset. Laurus was able to quicklyre-lease more than 75% of the building for a 10-yearterm to the City and County of SanFrancisco and implement tenant improvement renovations injust 90 days. In addition, Laurus executed a $14 millionrenovation of the building, including the façade, lobby,corridors, bathrooms, elevators, common areas and overall MAPsystems toward LEED Gold certification and Ashraecompliance.

“When we acquired 1155 Market St., the San Francisco mid-marketlocation was in the early stages of revitalization. We were able tocapitalize on the momentum, executing a focused business plan andaggressively pursuing targeted goals, efforts that ended upachieving over three times (3x) equity multiple for our investors”,said Philip Cyburt, CEO of Laurus Corporation.