German Investors and Michael Shvo Buy Transamerica Pyramid Center in San Francisco for $650 Million

Posted on 10/29/2020

San Francisco’s Transamerica Pyramid Center was sold to a joint venture led by SHVO and Deutsche Finance America. It is the first time that the building has sold. The joint venture purchased the 48-story tower and complex for US$ 650 million from Aegon NV, the Dutch insurance company that assumed ownership the property in 1999 as part of its purchase of Transamerica Corporation, the building’s namesake, which has owned and operated the tower since its completion. SHVO and Deutsche Finance America will ensure the Transamerica Pyramid’s instantly recognizable profile and the Transamerica Corporation’s logo will be maintained. SHVO and Deutsche Finance America acquired the properties together with a group of European investors anchored by Bayerische Versorgungskammer (BVK). BVK is Germany´s largest pension scheme group under public law represented by Universal-Investment-Luxembourg S.A. as AIFM. BVK has €81.7 billion assets under management and more than 1,350 employees.


The Transamerica Pyramid opened in 1972 at 600 Montgomery Street, long known as the “Wall Street of the West” and the gateway to San Francisco’s Financial District. The tower was designed by the famed firm William L. Pereira & Associates.

Deutsche Finance America is the U.S. unit of Deutsche Finance Group, a real estate investment management firm managing more than €6.9 billion in assets, that was formed in 2005. SHVO is a real estate investment firm founded by Michael Shvo. In 1996, Michael Shvo emigrated to the United States from Israel. Shvo made his wealth as a real estate broker with Douglas Elliman.

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