**TMG Partners, Bridges Capital Acquire Downtown San Francisco’s Metreon Mall**
TMG Partners, a San Francisco-based real estate firm, in partnership with Bridges Capital LLC, has acquired the Metreon—a 320,000-square-foot shopping and entertainment center located at 135 4th Street at Mission in Downtown San Francisco. The acquisition was completed through a deed-in-lieu of foreclosure transaction with Acore Capital, the lender on the property. The City of San Francisco will retain the ground lease of the property. While the purchase price was not disclosed, past reports have indicated an assessed value of approximately $150.7 million.
Originally opened in 1999, the Metreon has long served as a key destination for shopping, dining, and entertainment in the heart of San Francisco. Ben Kochalski, President and CIO of TMG Partners, commented on the acquisition stating, “Since it first opened in 1999, Metreon has been a mecca for entertainment, shopping, and dining for families, local office workers, and visitors to San Francisco. TMG Partners will now continue the tradition as we improve the experiential opportunities across the theaters, dining options, retail, common areas and most notably the top-floor event space.”
Situated in the vibrant Yerba Buena neighborhood, Metreon spans four stories and is anchored by prominent tenants including Target and AMC Theatres, which features the tallest IMAX screen in North America.
Mayor Daniel Lurie highlighted the broader significance of the acquisition for the city’s economy, saying, “This investment in the Metreon is a powerful vote of confidence in our downtown recovery.”
The deal reflects a continued belief in the revitalization of San Francisco’s urban core and represents a major milestone in the city’s ongoing economic renewal.
