OAKLAND, CA—The Swig Company purchased the Wakefield Building located at 426 17th St. in December 2014. Reflecting continued interest in the Uptown area of Oakland, an affiliate of The Swig Company has sold a 49% interest in the building to an affiliate of Stars Investments, a family-owned investment company headquartered in Santiago, Chile. It is the first partnership between the two firms and Stars' first investment in the Bay Area.

“We were introduced to Stars in early 2016 during their search for right Bay Area partner that not only shares their investment philosophy but also offered a robust integrated investment and operational platform,” Tomas Schoenberg, executive vice president of investments for The Swig Company, tells GlobeSt.com. “In addition to pursuing a sale of our interest in The Wakefield Building, we have pursued numerous other Bay Area investment opportunities together. We have found the Stars team to be very astute and extremely responsive. They understand what is required to compete effectively to execute on Bay Area real estate investment opportunities.”

The eight-story 56,676-square-foot landmark building is leased to six tenants and Powerhouse (formerly SfunCube), the solar energy incubator affiliated with Oakland-based Sungevity, occupies the top three floors. The building's proximity to the 19th Street BART station and Uptown's trendy bars and restaurants, combined with its classic architecture and open floor plans, has allowed the building to achieve some of the highest rents in the downtown creative office market.