SPF Capital International Acquires Mixed-Use Property In The East Cut, San Francisco For $1B

The mixed-use property located at 50 First Street in The East Cut, San Francisco has been sold in a closed transaction. The property comprises both residential and commercial units, and spans an impressive 2,064,510 square feet. The transaction was completed at a price of $1,000,000,000, translating to a price per square foot of $484.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,000,000,000
• Buyer: SPF Capital International Ltd
• Seller: Han Xiaosheng, Wu Chen – Oceanwide Holdings
• Address: 50 First Street, The East Cut, San Francisco
• Market: The East Cut, San Francisco

Oceanwide Holdings, represented by Han Xiaosheng and Wu Chen, was the selling party in the transaction. SPF Capital International Ltd emerged as the successful buyer of the property. It is worth noting that Oceanwide Holdings has anticipated a loss of $276 million on the project.