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.
