Friday, February 22, 2013

Archstone Sells San Fran Apt. Tower for $135 Million




National Commercial Real Estate News From CoStar Group





Archstone Sells San Fran Apt. Tower for $135 Million



Archstone traded Fox Plaza, a 444-unit multifamily complex in San Francisco, CA, to Essex Property Trust Inc. (NYSE: ESS), an apartment REIT, for $135 million.

Built in the 1960s, the 29-story high rise consists of office space on floors one through 12 and multifamily units on floors 14 through 19. The acquisition price included the residential portion plus a two-story property next door comprised of 37,800 square feet of office and retail space...






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