Jun
28
JV Seals Parcel F Deal in San Francisco
ByF4 Transbay Partners paid $160 million to acquire the last developable site in the downtown area zoned for a “super-tall” structure.
Transbay Transit Center, San Francisco
San Francisco—F4 Transbay Partners LLC—a joint venture between Hines, Urban Pacific Development LLC, and Goldman Sachs affiliate Broad Street Principal Investments LLC—has completed the acquisition of the highly coveted Parcel F, a spot of land neighboring the Transbay Joint Powers Authority’s multi-billion-dollar Transbay Transit Center project. F4 paid TJPA $160 million for the high-profile site, where it will erect a mixed-use skyscraper.
There’s a reason why Parcel F attracted highly competitive bids from both the U.S. and international investment community—actually, there are two reasons. Not only is the land the last of three parcels that can be directly connected to the Rooftop Park segment of the Transbay project, it is the last developable site in downtown San Francisco zoned for a “super-tall” (550 feet-plus) structure. The F4 building will be 750 feet tall upon completion…
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