Hamburg Trust real estate fund invests in San Fran-cisco class A office building

Hamburg Trust’s real estate fund ‘Finest Selection 3’ has invested about 6.78 million US dollar in 50 Beale Street, a 51.500 square-meter class A office building in San Francisco’s South Financial District. The building was constructed in 1968 as the headquarters for Bechtel Corp., but underwent a massive renovation in 2012 that allowed it to earn LEED Gold certification by the U.S. Green Building Council. It’s 90 percent leased. The purchase price is about 395 million US dollars, paid by a Real Estate Investment Trust (REIT) of the Paramount Group, Hamburg Trust’s partner in the U.S.. Finest Selection 3 together with other investors holds a share of the Paramount REIT. With the transaction the fund invested about 90 percent of its equity.

Posted on 5. May 2017 in Allgemein, office, U.S.A

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