Cyrus Sanandaji Of Presidio Bay Ventures And Dan Safier Of Prado Group Acquire San Francisco Centre Mall From Deutsche Bank And J.P. Morgan

The property asset involved in this transaction is a retail space located at 865 Market Street in San Francisco. This asset spans 1,200,000 square feet and is currently under contract. The transaction was initiated following a foreclosure credit bid of $133 million after prior owners defaulted on a $625.6 million loan.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $133,000,000
• Buyer: Cyrus Sanandaji - Presidio Bay Ventures
• Buyer: Dan Safier - Prado Group
• Seller: Deutsche Bank
• Seller: J.P. Morgan
• Market: San Francisco
• Asset Size: 1,200,000 square feet

Cyrus Sanandaji leads Presidio Bay Ventures, while Dan Safier operates with Prado Group in this joint venture. Together, they plan to redevelop the nearly empty San Francisco Centre mall, focusing on incorporating a mix of office and retail space, though residential use will be excluded due to building constraints.