Lone Star Funds Acquires Note Secured By 600 California Street From ARK Capital Advisors For $130M

600 California Street, located in San Francisco, has been involved in a significant transaction involving a note/loan. The asset encompasses 359,883 square feet and was sold for $130,000,000, equating to a price per square foot of $361. The property has faced challenges since 2023, marked by rent defaults and bankruptcy, leading to a decline in net operating income from $13.8 million in 2019 to $1.99 million in 2024.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $130,000,000
• Buyer: Donald Quintin - Lone Star Funds
• Seller: ARK Capital Advisors
• Square Footage: 359,883
• Price per Square Foot: $361

Donald Quintin represented Lone Star Funds in the acquisition of the CMBS debt tied to the office building at 600 California Street. The previous owner, ARK Capital Advisors, faced significant financial distress related to the property, which was formerly leased by WeWork.