Japan-based investors have been acquiring properties across the United States, with recent purchases in San Francisco and Atlanta, demonstrating the United States has continued to be attractive to foreign investors.

Foreign investors have been especially focused on gateway markets. According to Marcus & Millichap, 43 percent of 2015’s foreign capital invested in commercial real estate was concentrated in only five markets: New York City, Los Angeles, Atlanta, Chicago and Dallas. For the first half of 2016, San Francisco and Phoenix made that list, pushing out Dallas and Atlanta.

A partnership between Japan-based Takenaka Corp. and Kennedy Wilson has acquired 400/430 California St. in the North Financial District submarket of San Francisco for $135 million. Kennedy Wilson invested $13.5 million in the transaction.

The property, a 247,000-square-foot office tower and 27,000-square-foot bank branch, is 100 percent occupied by MUFG Union Bank, which will lease