Market Overview

Lincoln Property Company Acquires Historic San Francisco Creative Office Tower in the Heart of Financial District

Share:

Lincoln Property Company, led by Lincoln's LPC West team in San
Francisco, has partnered with affiliates of Rockwood Capital, LLC to
purchase 332 Pine Street, a historic office building in San Francisco's
financial district. The nine-story office building includes a penthouse
and rooftop terrace, and is occupied by a variety of technology and
media tenants.

Built in 1912, the building comprises more than 45,000 square feet,
featuring open floor plans, side-core construction, high ceilings, and
exposed concrete and brick.

"The building's historic architecture, along with its proximity to
public transit, will continue to be attractive to the modern workforce,"
said Brandon Wang, executive vice president of LPC West. "We're thrilled
to acquire this outstanding boutique office asset with our partner
Rockwood Capital."

Peter Kaye, co-managing Partner of Rockwood, added, "332 Pine represents
an excellent property to add to our portfolio and exemplifies our focus
on acquiring high-quality, well-located real estate in mixed-use
environments that benefit from public transportation. We look forward to
working together again with Lincoln to unlock additional value at the
project."

332 Pine is conveniently located a short walk from two BART stations –
Montgomery and Embarcadero – as well as nearby amenities including
Equinox Pine Street, Blue Bottle Coffee and the Loews Regency hotel.
Kyle Kovac and Mike Taquino of Newmark Knight Frank represented the
transaction.

About Lincoln Property Company

Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is
a privately-owned real estate firm involved in real estate investment,
development, property management and leasing worldwide. Lincoln has
offices in all major markets of the U.S. and throughout Europe.
Lincoln's cumulative development efforts have produced over 130 million
square feet of commercial space and over 212,000 multifamily residential
units. Lincoln Property Company is the second largest apartment manager
in the United States. Access www.lpcwest.com
for more information.

About Rockwood Capital, LLC

Rockwood Capital, LLC is a real estate investment management firm,
founded in 1995 that provides equity capital combined with real estate
operating expertise for repositioning, recapitalization, development and
redevelopment of retail, hotel, residential, office and research and
development space in key markets throughout the United States. Rockwood
and its principals have invested on behalf of their clients
approximately $27.4 billion of real estate through ten value-add
vehicles and ten separate accounts. Today, Rockwood is a 75-person real
estate investment firm with offices in New York, NY, San Francisco, CA,
and Los Angeles, CA that manages a portfolio of approximately $9.9
billion of gross real estate value. Rockwood's investors include public
and private pension funds, endowments, foundations, insurance companies,
fund of funds, high net worth individuals and family offices. Learn more
at http://www.rockwoodcap.com.

View Comments and Join the Discussion!