J.P. Morgan buys three San Francisco assets for $415m
J.P. Morgan has purchased a three-property portfolio from Jamestown for approximately $415 million. All the properties are located in San Francisco and blocks from each other. Eastdil Secured represented the seller.
An official release has not be announced; however, according to Real Capital Analytics, the highest-priced property in the deal was the 130,000-square-foot Pacific Place, a retail property at 801 Market St. The sales price was $184.7 million, or $1,420 per square foot. Jamestown acquired the two-building, nine-story property in 2004, which was part of a portfolio containing the other two sold properties.
The next highest-priced asset is the Pacific Place office property at 22 Fourth St., selling fo