Transactions - MARCH 28, 2017

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Ohio STRS to sell SF office for $473m

by Jody Barhanovich

The $69.8 billion State Teachers Retirement System of Ohio plans to sell a San Francisco office building for $473 million, according to news sources. Beacon Capital Partners is reportedly the buyer of the office property.

The 43-story, class A office building is located at 44 Montgomery St. in San Francisco’s Financial District. The property had been placed on the market in January, according to news sources. Ohio STRS acquired the property in 1997 for $111 million and is currently a tenant in the building, which serves as a regional office.Beacon Capital is expected to renovate the property.

Ohio STRS targets four markets on the West Coast, according to its website. These include San Francisco, Seattle, Los Angeles and San Diego. It invests mainly in office, industrial, retail and apartment properties.

Additional properties owned by Ohio STRS in San Francisco include the Courtyards at 65th St. Apartments, Fleming Business Park, Foundry Square I and One Calif

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