Bentall Kennedy wants to sell stake in
757 Third, SF properties for $1B

Canadian firm bought Midtown office tower in 2015 for $360M

TRD New York /
May.May 03, 2017 09:40 AM

757 Third Avenue and Gary Whitelaw

A real estate fund run by Bentall Kennedy hopes to raise $1 billion by selling a 49 percent stake in 757 Third Avenue and two San Francisco properties.

The Canadian investment firm bought the 459,000-square-foot, 27-story office tower for $360 million in 2015 from Aby Rosen’s RFR Realty.  The other two properties up for grabs are 600 California Street and 475 Sansome Street in San Francisco, Real Estate Alert reported. Eastdil Secured is marketing the properties.

757 Third received a $30 million renovation in 2013 and is 91 percent leased, according to Real Estate Alert. Major tenants include accounting firm Grant Thornton, which leased 130,000 square feet, and communications firm NTT America.

Last year, Bentall bought the downtown office building 2 Rector Street in partnership with Cove Property Group from Kushner Companies and CIM Group for $225 million. [REA] — Konrad Putzier

Related Articles


Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

163 North 6th Street and the Tel Aviv Stock Exchange Bull (Credit: Google Maps, Wikipedia)

Joel Gluck’s Israeli bond issuance falls through as Williamsburg rental project faces financing crunch

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill