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IN-DEPTH LOOK: Invesco acquires 101 Second St. in San Francisco

by Reg Clodfelter

Dallas-based Invesco Real Estate has acquired 101 Second St., a 388,000-square-foot office building in San Francisco, from Hines for a rumored price of around $294 million. Here’s an in-depth look at the deal.

THE DEAL

Invesco paid a rumored $294 million, or $760 per square foot, to acquire the office high-rise in January 2014 from a subsidiary of the Hines U.S. Core Office Fund. The financials on the deal reportedly equate to a 3 percent cap rate. The sale was brokered by CBRE, according to data from Real Capital Analytics.

THE ASSET

Completed in 2000, the property at 101 Second St. is

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