Hines Acquires Office Buildings In San Francisco From PG&E Corporation For $800M
SOLD
$800,000,000
California
See Similar DealsOffice
Sold 09/01/2021
SOLD
Hines Acquires Office Buildings In San Francisco From PG&E Corporation For $800M
77 Beale Street, San Francisco, CA, USA
See Similar DealsOffice
Sold 09/01/2021
Summary
CALIFORNIA
Asset Type:Office
Transaction Type:Sale
The property asset involved in this transaction is an office located at 77 Beale Street & 245 Market Street in San Francisco. The sale took place on 09/01/2021.
Summary of transaction details:
- Property Type: Office
- Sale Price: $800,000,000
- Address: 77 Beale Street & 245 Market Street
- Market: San Francisco
The buyer in this transaction was Hines, while the seller was PG&E Corporation (Pacific Gas & Electric Company) represented by Patti Poppe.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$42,666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,842,231.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,792,408.14
Annual Debt Service$45,508,897.69
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