Christian Hansen And Kenneth Fong Acquire Office Building In San Francisco For $25.2M

The property asset involved in this transaction is located at 417 Montgomery Street, San Francisco, CA. It is an office asset with a total square footage of 96,000, selling for $25,200,000. The property is identified as a Class B building, currently exhibiting around 70% vacancy, with plans for repositioning towards Class A through renovations including a new lobby and amenity center.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $25,200,000
• Buyer: Christian Hansen - Wheatley Properties
• Buyer: Kenneth Fong - Kenson Ventures
• Seller: CGIT Enterprises LLC
• Seller: San Francisco Assets LLC
• Seller: Entrex Holdings LP
• Seller: DCN LLC
• Seller: Cushman Neal Family LLC
• Seller: DCN 2012 LLC
• Broker: Ryan Venezia - Cushman & Wakefield
• Broker: Seth Siegel - Cushman & Wakefield
• Broker: Scott J. Prosser - Cushman & Wakefield
• Broker: Jack DePuy - Cushman & Wakefield
• Lender: East West Bank
• PPSF: $263

The transaction involved Silicon Valley investors, where Kenson Ventures and Wheatley Properties acquired the property and secured a loan of $28.5 million from East West Bank. The property will target AI, tech, and venture capital tenants through extensive renovations aimed at enhancing its market appeal.