Updated Oct 29, 2024
MichaelSHVO & Deutsche Finance Acquire Office Building In Financial District, San Francisco For $700M
Transamerica Pyramid, 600 Montgomery St, San Francisco, CA 94111, USA
$700,000,000
$1,000/SF
Building Size
700,000 SF
Asset Type
Office
Closing
Feb 3, 2020
About this deal
AI
The iconic 600 Montgomery Street building in the Financial District of San Francisco has recently been sold in a closed transaction for a staggering price of $700,000,000. Spanning across 702,000 square feet, the property boasts an impressive price-per-square-foot value of $997.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $700,000,000
- Square Footage: 702,000
- Price per Square Foot: $997
- Address: 600 Montgomery Street
- Market: Financial District, San Francisco
The property was acquired by @MichaelSHVO and Deutsche Finance, acting as the buyers in this notable deal. On the other hand, the seller was @Transamerica John Beckett. It is worth mentioning that until 2018, the 600 Montgomery Street building held the title of the tallest building in San Francisco. Although it is no longer the tallest, it still holds a prominent place in the city's skyline.
On the Map
$700,000,000
$1,000/SF
Office
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Players
San Francisco Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93