When CBRE Global Investors acquired a historic office property in San Francisco for $140 million at the height of the pandemic in 2020, the city's office market was still one of the priciest and most desirable in the world. Fast forward three years, however, and the market has been turned upside down as demand and prices plummet and the only buyers to be found are scouring for a deal.
San Francisco Office Building Lands Buyer for Fraction of Original List Price
Rubicon Point Partners Acquires Townsend Building for $72 Million as City’s Property Valuations Plummet
By Katie Burke
CoStar News
November 1, 2023 | 9:06 P.M.
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IN THIS ARTICLE
- Properties
- Townsend Bldg
123 Townsend St, San Francisco, CA
- California Tower
550 California St, San Francisco, CA
- Companies
- Rubicon Point Partners
Real Estate
- CBRE Investment Management
Real Estate