German RE Firm Plucks $447M Tower From Ripe SF Market

Law360, New York (June 8, 2012, 5:23 PM EDT) -- Germany's Union Investment Real Estate GmbH picked up a 33-story San Francisco office tower from Tishman Speyer Properties LP in a $446.5 million deal that cements the Bay Area city's reputation as one of the hottest real estate markets in California, according to an announcement Thursday.

The property at 555 Mission St. gives the Hamburg-based investment giant more than 557,000 square feet of leasable space arranged in "highly efficient layouts," according to a statement from Union Investment.

The Class A office tower is 88 percent rented...
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