Polidev Investment to sell two San Francisco offices
Polidev Investments will sell two San Francisco offices. The properties will be sold under two separate agreements. According to sources familiar with the matter, Goldman Sachs and its local operating partner Tidewater Capital intend to buy 351 California Street for $110m and the 747 Front Street office asset is to be sold for $70m to Morgan Stanley and Bridgeton Holdings.
In addition to Polidev paid $35m for 351 California in 2010 and bought the 747 Front asset in 2012 for $22.8 million.