Presidio Bay, Bridges Capital to Reposition Historic San Francisco Fed Building

Presidio Bay and Bridges Capital have formally taken ownership of 301 Battery St., the circa-1924 former Federal Reserve Bank of San Francisco building. The transfer of ownership, completed through a deed-in-lieu transaction, follows Presidio Bay and Bridges Capital’s July 1 acquisition of the loan secured by the property.  
 
With title now transferred, Presidio Bay will reintroduce the 210,000-square-foot landmark property as The Reserve, with San Francisco-based PLEASE Management tapped to lead the building’s historic event space.

“301 Battery is an irreplaceable piece of San Francisco history, and we see an extraordinary opportunity to give this landmark a renewed sense of purpose,” said K. Cyrus Sanandaji, founder and managing principal of Presidio Bay. “Our vision is for The Reserve to be a living landmark, a place that respects the significance and character of the building while creating new reasons for people to experience it.” 

The property’s historic Banking Hall will anchor a new events and hospitality business operated as a joint venture between Presidio Bay sister company The Main Post and PLEASE Management. The Reserve is now accepting inquiries for event bookings, with office leasing led by Conor Famulener, Trent Holsman and Sam Stein of CBRE.