New call-to-action
Connect Events

Whether digital or in-person, Connect Events set the stage to bring together relevant content with CRE’s most active players to engage, influence and inform.

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Bay Area  + Office  | 

Columbia Expands JV with Allianz on $400M San Francisco Asset

Columbia Property Trust, Inc. and Allianz Real Estate completed the formation of a joint venture to recapitalize 221 Main St. in San Francisco. Allianz contributed cash of $180 million for a 45% ownership interest in the joint venture, which values the South Financial District tower at $400 million.

221 Main Street is a 381,000-square-foot, LEED Platinum and Energy Star-certified office building. Acquired by Columbia in 2014, the property features Bay views and abundant outdoor space. The building is fully leased, primarily to tech tenants such as DocuSign and Prosper Marketplace.

Columbia will retain a 55% ownership stake and function as general partner for the venture. Columbia will also continue to oversee the day-to-day operations of the asset. This transaction is the fifth office asset owned by joint ventures between Columbia and Allianz, which now have a collective gross asset value of roughly $2.3 billion.


Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Columbia Property TrustConnect With Allianz Real Estate

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action
SIOR-10-cube
RockefellerGroup-10-cube