Page Mill Properties L.P., a real estate equity fund based in San Francisco, announced the purchase of a 70 percent ownership interest in 444 De Haro St., a 152,000-square-foot office complex in San Francisco.
The value of the transaction was not disclosed.
The investment, which closed Nov. 9, was made in a newly formed joint venture with affiliates of Flynn Properties, a San Francisco-based real estate investment group.
Originally built in 1927 and 1937, and renovated with seismic upgrades in 1984, 444 De Haro consists of a 140,199-square-foot, two-story office building with an adjoining three-story, 12,528-square-foot, wood-frame building. The property is situated on 1.8 acres, encompassing an entire city square block bordered by 17th, De Haro, Mariposa and Rhode Island streets.
At the time of sale, the building was 70 percent leased, largely to tenants in the technology and professional service sectors, and includes ground-floor retail space.
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