Bryan Cave LLP Represents Joint Venture in Acquisition and Leaseback of Iconic San Francisco Property

January 5, 2017

Bryan Cave represented a joint venture of Takenaka Corporation and Kennedy Wilson in the $135 million acquisition and leaseback of 430 and 400 California St., in San Francisco, Calif.  Bryan Cave also represented Takenaka Corporation in the negotiation of the joint venture with Kennedy Wilson.

Located in the heart of San Francisco’s financial district, 430 California St. is a 247,000-square-foot office tower and 400 California St. is one of San Francisco’s most iconic retail buildings. The property is 100 percent occupied by MUFG Union Bank, which will vacate the tower over the next two years and the retail property after four years.

Takenaka Corporation is among Japan's oldest and largest general contractors with annual sales in excess of $12 billion and a track record of acquiring and owning prime properties in various international locations. The company’s existing portfolio includes office buildings and hotels in London, New York, Kauai and San Francisco. Kennedy Wilson (NYSE:KW) is a global real estate investment company that owns, operates and invests in real estate both on its own and through its investment management platform.

The transaction was widely covered by national media, including Law360, Yahoo! Finance, The Wall Street Transcript, Commercial Property Executive and StreetInsider.com.

Led by Barry Ross, the Bryan Cave team included Ian Weiskopf, Holly Lopez, Arthur Friedman, Jack Mandel, Jigar Vakil, Emily Rossi and Lorna Miller.