San Francisco Commercial Real Estate
Transbay Block 6 Trades for $30M
1.82 Acres Entitled for 545 Multi-Family Units
Bentall Kennedy LP, a Seattle-based developer, purchased Transbay Block 6 for a confirmed sales price of $30 million, or about $16.5 million per acre.
Block 6 is a 1.82-acre parcel of land bordered by Fremont St., Folsom St., and Beale St. in San Francisco’s South Financial District and is entitled for a 545-unit apartment complex. Reportedly, the complex will include 409 units of market-rate housing and 70 units of affordable housing. Also included in the complex will be ground floor retail and publicly accessible open space.
This was a direct deal between The Transbay Joint Powers Authority and Bentall Kennedy LP. The Transbay Joint Powers is the public agency in charge of redeveloping the land around the Transbay Terminal station at First and Mission.