Hines To Pay $180M For Old Navy-Leased San Fran Building

Law360, New York (August 22, 2012, 5:19 PM EDT) -- A Hines Interests LP unit has agreed to pay a subsidiary of GLL Real Estate Partners Inc. $180 million for a San Francisco office building that houses Gap Inc.'s Old Navy headquarters, the buyer said Tuesday.

The deal, which was inked Aug. 7, will give Hines Global REIT Inc. control of 550 Terry Francois Blvd., a 10-year-old building in San Francisco's Mission Bay neighborhood that features 282,773 square feet of rentable space, according to a disclosure Hines filed Tuesday with the U.S. Securities and Exchange Commission....
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