Rubicon Point Partners, a leading real estate investment firm, has recently acquired The Townsend Building in San Francisco’s SoMa district. This six-story brick and timber building is strategically located at 123 Townsend St. and offers excellent transit options for tenants.
While the purchase price was not disclosed by Rubicon Point Partners, industry reports estimate it to be around $73 million. This is significantly lower than the previous sale price of $140 million in July 2020 by CBRE Global Investors but still one of the highest per-square-foot prices paid locally in recent years.
The acquisition aligns with Rubicon’s focus on investing in top-tier properties along the West Coast. Their investment decisions are backed by proprietary data, advanced analytics and AI applications that evaluate factors such as traffic patterns and return-to-office metrics to identify lucrative opportunities.
According to Ani Vartanian, co-managing Partner at Rubicon Point Partners based locally in San Francisco, this acquisition reflects their confidence in finding similar promising investments within their target markets. The office property spans over 137,600 square feet and is currently leased to PayPal until 2028.
