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114 Sansome Street, San Francisco, CA - 2005

Principals of Sansome Street Advisors sourced an off market opportunity to purchase a well renovated 190,000 square foot building located in San Francisco’s North Financial District.  The building, originally constructed in 1908 and expanded in 1928, had received a $15 million upgrade in 2000.  SSA’s team developed a plan to capitalize on the significant near term rollover and discounted in place rents by implementing a lease buyout plan with the majority of tenants.  The plan enabled the resale of the property with a 40% increase in pro forma net income after vacating 48% of the office tenants.