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Asian investors made significant investments in San Francisco last year. Out of CommercialCafé’s top 20 Asian office buys, four were made in San Francisco, totaling $949M. Comparatively, Asian office acquisitions in San Francisco were worth $296M in 2015, $350M in 2014 and $129M in 2013. San Francisco also was among the most sought-after cities from Chinese investors for commercial real estate in 2016.
:quality(75))
Last year was one of the biggest years for Asian office buys since 2012, when the government of Singapore spent $910M on 101 California St. In 2016, the biggest buy was the Phelan Building at 760 Market St. for $374M by the Hotung family of Hong Kong. Thor Equities originally bought the property for $130M eight years ago. Other Asian acquisitions include HNA Group’s purchase of 123 Mission St. for $255M ($740/SF) from Pacific Eagle Holdings. HNA Group used a $187M loan from Blackstone Group for this purchase.
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