San Francisco’s Transamerica building placed on the market with $650m price tag

Transamerica Corp. and its parent company Aegon are planning to put up for sale the iconic Transamerica Pyramid in San Francisco, local media outlets have reported. 

The sales price is estimated to be between $625 million and $650 million.

The 853-foot, 48-story tower was built in 1972 and was the city’s tallest tower until the completion of Salesforce Tower. The Transamerica Pyramid was the tallest skyscraper west of Chicago when constructed, surpassing the then-tallest Bank of America Center, also in San Francisco. It was surpassed by the Aon Center in Los Angeles in 1974.

In 1999, Dutch insurance company Aegon acquired Transamerica. When the non-insurance operations of Transamerica were later sold to GE Capital, Aegon retained ownership of the building as an investment.