Seven Equity Group acquired 875 and 899 Howard, a two-building office property totaling roughly 280,000 square feet in downtown San Francisco, for $65.5 million. Commercial Search reports that Genesis Capital Group originated a $51 million acquisition loan. Hudson Pacific Properties was the seller.
The two buildings debuted in 1920. The one at 899 Howard is a retail-to-office conversion. Upon closing, 875 Howard was 36 percent occupied and 899 Howard was fully vacant. Transwestern is the leasing manager.
The buildings previously traded in 2007 for $46 million, when Hudson Pacific Properties purchased them from The Reliant Group.
Located at the intersection between Howard Street and Fifth Street, 875 and 899 Howard sit close to Interstate 80 and U.S. Route 101. The buildings are within walking distance of multiple dining and transit options, including BART and MUNI.
The six-story 875 Howard spans 188,252 square feet. The three-story 899 Howard spans 92,000 square feet.
