Acquisition of 555 California Street, San Francisco

Deal value: $1.2 Billion

Acquisition of the iconic 555 California Street, a 1.8 million SF Class A office tower in San Francisco's Financial District, targeting high-credit tenants and repositioning for post-pandemic demand.

The acquisition of 555 California Street is driven by a belief in San Francisco’s post-pandemic office market recovery, targeting a rare, high-quality asset with strong tenancy and low vacancy. The buyer is motivated by the opportunity to reposition a landmark property for evolving tenant needs, capitalize on below-replacement cost pricing, and benefit from the city’s anticipated economic rebound and AI sector growth. The deal reflects a conviction that trophy assets in prime CBD locations will outperform as demand for best-in-class office space returns.