Columbia Property to buy San Francisco office tower
Columbia Property Trust has agreed to buy 650 California St., located in San Francisco, from joint venture partners Tishman Speyer and Prudential Real Estate Investors. The sales price is rumored to be $350 million.
The previous owners purchased the 33-story office in 2012 for $223 million and invested $14 million for renovations.
The acquisition would be Columbia’s second major San Francisco office asset acquired this year. In April, the public REIT paid $234.4 million for 221 Main St.
Another California Street office transaction is 201 California St. The sales price is estimated to be approximately $130 million. The buyer is