Paul Paradis Of Bayhill Ventures Acquires Office Building In San Francisco For $7.6M

The office building located at 1128 Market Street in San Francisco was sold for $7.6 million. This property encompasses 76,500 square feet, resulting in a price per square foot of approximately $99. The sale followed foreclosure proceedings initiated after the property was previously traded for nearly $50 million in 2018.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $7,600,000
• Buyer: Paul Paradis - Bayhill Ventures
• Seller: East West Bank
• Square Footage: 76,500
• Price Per Square Foot: $99
• Last Traded Amount: $50 million (2018)
• Previous Loan Amount: $42 million from East West Bank
• Previous Owners: Canyon Catalyst Fund and Rubicon Point Partners
• Default Period: 2023

Paul Paradis represented Bayhill Ventures in the acquisition of the property, indicating a strategic purchase following previous financial challenges faced by the former owners. East West Bank facilitated the sale, likely influenced by the property's foreclosure status, which led to this significant transaction in the San Francisco market.