Chris Freise Of REDCO Development Acquires Office Building From Capital One For $15.1M

The property involved in this transaction is an office building located at 208 Utah Street in San Francisco, with a sale price of $15,100,000. The asset encompasses 78,740 square feet, resulting in a price per square foot of $192.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $15,100,000
• Buyer: Chris Freise - REDCO Development
• Seller: Capital One
• Market: San Francisco
• Square Footage: 78,740
• Price Per Square Foot: $192

Chris Freise of REDCO Development executed the acquisition, marking the third distressed office purchase by REDCO in San Francisco since 2023. The acquisition occurred via a deed-in-lieu-of-foreclosure, following the purchase of a nonperforming $25 million loan for $15.1 million, transferring ownership from Shorenstein.