Published:
Ascendas Reit buys 2 San Francisco office properties for $768m
The properties will be leased to Stripe and Pinterest.
Ascendas Real Estate Investment Trust (REIT) has announced its proposed acquisition of two office properties in San Francisco for $768m.
The properties, completed in 2017, are located at 510 Townsend Street and 505 Brannan Street in the South of Market submarket.
Full lease of the properties are granted to two high-quality technology companies, Stripe and Pinterest, for a weighted average lease expiry of 9.1 years.
The two tenants will further increase Ascendas Reit’s exposure to the growing technology, biomedical and digital media industry in the United States to 75%.
Read Here
Advertise
Sign Up
