Weekly Real Estate News
The previously undisclosed sale price of San Francisco’s iconic Transamerica Pyramid has been reported at approximately $700 million, the city’s largest office property transaction since 2021.
Greet Street News confirmed the price being paid by the Cyprus-based investment firm Yoda plc for the 48-story, 750,000-square-foot property. The sale is only the second time since the property’s opening in 1972 that it has changed hands. In 2020, a joint venture of Michael Shvo and Deutsche Finance America paid $650 million for the property in 2020, mostly tapping into capital from German pension fund Bayerische Versorgungskammer (BVK), and later invested up to $400 million in its renovation.
“The Transamerica Pyramid has long symbolized the city’s ambition and resilience,” Shvo said in a statement. “We are proud to have strengthened that legacy – physically, financially, and culturally – and I am confident it will continue to define the skyline and serve generations to come under its next custodian.”
Photo: Frank Schulenburg / Wikimedia Commons
