OCTOBER 24, 2013

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Mass PRIM buys stake in San Francisco property

by Andrea Waitrovich

The $53.1 billion Massachusetts Pension Reserves Investment Management Board has made a $90 million investment into the acquisition of the 543,000-square-foot 333 Bush St. in San Francisco, valuing the property at $275 million. The seller was Brookfield Asset Management. Mass PRIM decline to comment on the transaction.The transaction was completed for Mass PRIM through its real estate separate account manager AEW Capital Management, which acquired the property with DivcoWest Properties.

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