Making a Record-Breaking Real Estate Deal
A Korean investment fund, a Hong Kong based mogul, and an office tower in San Francisco may seem like an unlikely trio. But, with our legal legwork - and an astonishing series of 3's - the trio became a winning combination for all involved.
A Korean investment fund consulted with a Hong Kong based businessman with regard to the fund's purchase of a 33-story office tower in San Francisco. We worked with the Korean fund and Eric Bender of the California offices of Downtown Properties. We conducted due diligence, reviewed and negotiated purchase documents, and negotiated and finalized the financing. We also drew up documents to establish the corporate entity that purchased the building. With cash from the Korean fund and a bank loan, the buyer delivered $333 million for the tower in June 2010.
This was the largest commercial real estate deal in San Francisco since 2007.