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Union Investment acquires office building in San Francisco

Four years after acquiring its last holding in the United States, Union Investment has entered one of the most dynamic US office property markets, buying the 33-storey office property at 555 Mission Street in San Francisco for around 446,5 million US-Dollar. Union Investment purchased the Class A building – which was completed in 2008 and has been awarded LEED-CS „Gold“ certification – from project developer Tishman Speyer. The property has been acquired on behalf of the open-ended real estate fund UniImmo: Europa.The recent acquisitions and disposals in Seattle and San Francisco further increase the geographical diversification of the fund’s American holdings. 555 Mission Street is 88% let to 12 tenants with an average lease dura...[…]