KKR has closed on The Exchange on 16th, a 750,000-square-foot office complex in San Francisco's Mission Bay submarket for slightly more than $1 billion. The seller is Kilroy Realty Corp.
Longfellow Real Estate Partners, a life science focused real estate developer and manager, will work with KKR to operate the property. KKR is making the investment through its core plus real estate strategy.
With a purchase price equating $1,440 per square foot, the agreement is reported to be the highest per-square-foot sales price for a property in the San Francisco commercial real estate market.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
