Kevin Hayes Of Pendulum Property Partners Acquires Office Building From Ted Pick And Atit Jariwala For $49M

The transaction involved the sale of a fully leased office building located at 747 Front Street in San Francisco, CA. The asset measures 82,000 square feet and was acquired for a sale price of $49,000,000, equating to a price per square foot of $598.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $49,000,000
• Buyer: Kevin Hayes - Pendulum Property Partners
• Seller: Ted Pick - Morgan Stanley
• Seller: Atit Jariwala - Bridgeton Holdings
• Market: San Francisco, CA
• Square Footage: 82,000
• Price per Square Foot: $598

Kevin Hayes represented Pendulum Property Partners in the acquisition, while Ted Pick and Atit Jariwala represented Morgan Stanley and Bridgeton Holdings, respectively. The transaction was executed through a deed in lieu of foreclosure after Pendulum Property Partners purchased the property's debt for approximately $49 million.