This article is from the Australian Property Journal archive
THE Tishman Speyer Office Fund has sold its asset at 550 Terry Francois Boulevard, San Francisco for $US135.5 million.
The deal will also see the buyer assume the existing debt facility of $US107.5 million.
TSO said the gross sale price is in line with the June 30 valuations. The sale generated net proceeds of approximately $US23 million after selling costs.
TSO has now raised total new liquidity of approximately $US52 million through the sale of 550 Terry Francois Boulevard and 3 MacArthur Place, Orange County.
The fund is required to raise new liquidity of $US55 million as a condition precedent to the US REIT Facility Final Funding.
Australian Property Journal
