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Transamerica Pyramid Trades for $650M to SHVO, Deutsche, European Investors

The iconic 48-story Transamerica Pyramid Tower in San Francisco traded hands for $650 million. A JV partnership between New York-based SHVO and Deutsche Finance International acquired the Transamerica Pyramid Center Complex property from Transamerica and Aegon NV.

The site includes a three-building, 703,537-square-foot, Class A office complex and development parcel on an entire city block in the heart of San Francisco’s Financial District. The transaction marks the first time the distinctive tower at 600 Montgomery St. has changed hands since it delivered in 1972.

JLL’s Gerry Rohm, Michael Leggett, Robert Hielscher and Michael Seifer represented the seller and procured the buyer, which also included a consortium of investors led by German pension fund, BVK. JLL’s Peter Smyslowski, Mike Tepedino, Robert Tonnessen and David Sitt arranged $390 million in acquisition financing.

Rohm says, “This was a unique opportunity to acquire one of the world’s most recognized office towers, with its iconic architecture still globally recognizable after nearly 50 years.”

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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
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