Media Coverage
Source: Law360
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
12.20.16
Union Bank’s California St. office tower and bank branch in San Francisco have been purchased by a joint venture between real estate investment company Kennedy Wilson and Takenaka Corp. The firms will pay $135 million for the spaces, with Kennedy Wilson investing $13.5 million in the transaction.
The firms will purchase Union Bank’s iconic 247,000-square-foot office tower and 27,000-square-foot bank branch in the Bay Area’s North Financial District. Union Bank will vacate the tower over the next two years, and the bank branch over the next four. Following the vacancy, the property will undergo a complete interior renovation, which will include renovation of the lobby and other interior upgrades.
San Francisco Real Estate partner Glenn Snyder and senior associate Doug Pyle provided legal counsel to Union Bank in the sale.