CPPIB Buys Interest in Uber and Square Headquarters
San Francisco’s resurgent office market has attracted more institutional investors to the stage. The Canada Pension Plan Investment Board (CPPIB) and Los Angeles-based Hudson Pacific Properties, Inc., a real estate company focused on Western U.S. real estate, formed a joint venture in which the CPPIB is acquiring a 45% interest in 1455 Market Street. CPPIB is acquiring the equity interest from Hudson Pacific for US$219.15 million. This is before closing adjustments. Hudson Pacific will retain a 55% interest in the San Francisco Class A office and handle building management and leasing. The 1455 Market property has 22 stories and sits along 11th street.
1455 Market Street is the global headquarters of famous startups Uber and Square. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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