Wisconsin pension fund sells Northern California office campus for $202m
The $89.7 billion State of Wisconsin Investment Board has sold the Facebook headquarters in Menlo Park, Calif., to the social media company for $202 million. RREEF represented the seller. The 11-building complex totals more than 1.02 million square feet. SWIB became Facebook’s landlord in 2011, acquiring the complex for $100 million from Oracle. At that time, Facebook signed a 15-year lease with an option to buy the campus after five years. The sale follows SWIB’s sale of the 669 Mag Mile mall in Chicago for $295 million.