TMG Partners in partnership with Bridges Capital, has acquired 149 New Montgomery St., a class A, 80,000-square-foot office building in San Francisco’s South Financial District.
“We believe this submarket will continue to be in high demand from tech, AI and professional services firms due to its exceptional location blocks from Market Street, Salesforce Transit Center and Yerba Buena/Moscone Center, with multiple transit nodes within a four-minute walk,” said Ben Kochalski, TMG Partners president and CIO. “We are planning renovations to enhance the creative office elements of this brick and timber building while preserving its architectural charm.”
TMG acquired the mortgage loan from U.S. Bank as trustee last month and has acquired the property through a deed in lieu of foreclosure.
The property is an 80,000-rentable-square-foot, six-story office building located in the New Montgomery corridor. Constructed in 1907, with floors five and six added in
