SAN FRANCISCO-DivcoWest has paid $78 million for two adjoining office buildings in the SoMa district of this city, according to sources familiar with the transaction. Located at 631 Howard and 55 Hawthorne, the two buildings are marketed together as the Howard/Hawthorne Center, and contain 237,123 square feet of rentable space, together with a five-story parking structure.

The seller was RREEF Funds, a unit of Deutsche Bank. Jones Lang LaSalle represented the owner in sales negotiations, while DivcoWest represented itself.

Although the price divided by square footage yields a price in the mid-$300 range, the actual price of the office space is closer to $250 per square foot, when the parking structure is left out of the equation, according to the same sources.