OAKLAND, CA—In a transaction valued at $12 million, San Francisco-based Ridge Capital Investors LLC and Contrarian Capital Management LLC have acquired the Latham Square office building, located at 1611 Telegraph Ave. The seller was a lender that had foreclosed on the property in 2012.

The 114,000-square-foot, 15-story office property is located in Oakland’s Uptown district. Ridge plans to substantially improve the property and its amenities, transforming the historic 1920′s era building into Oakland’s premier multi-tenant, creative office building. The plans include the refurbishment of the systems, office space and common areas to offer high quality, flexible and collaborative spaces that fit the needs of today’s tenants.

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