California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KKR Claims Oakland Tower from TMG for $170M+
New York-based KKR is acquiring 1330 Broadway in Downtown Oakland from TMG Partners for reportedly north of $170 million. TMG, which recently completed a redevelopment of the 18-story, 320,000-square-foot office building, also plans to invest in the new partnership with KKR, and will continue handling property and asset management.
TMG’s Michael Covarrubias says, “It is gratifying to have been able to revitalize one of downtown Oakland’s best buildings. The redevelopment of this urban infill, transit-oriented building has only strengthened our commitment to Oakland and our tenants at 1330 Broadway.”
Tenants include Oracle, Arup, Clovis Oncology, UCSF, Verizon, Chase Bank and Citizens Engagement Lab. TMG purchased the asset in November 2015 for $80 million. It is KKR’s second deal in Oakland, and the firm is making the investment through its Real Estate Partners Americas Fund II.
Eastdil Secured’s Jeff Weber, Stephen Van Dusen, Mark Penrod, Darwin Rodriguez, Chris Banke and Kevin Shepley handled the sale.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


