$1 billion: Landmark Bay Area office complex is bought

SOUTH SAN FRANCISCO — In a mega-deal, a big investor has bought a landmark office center that features two prominent office towers in South San Francisco near Oyster Point, paying $1 billion for the trophy property.

Ventas, a real estate investment trust, through one of its subsidiary funds, has bought the Genesis South San Francisco office campus, which consists of two big office buildings, including a tower, and an amenities center, the buyer said Thursday.

“We are pleased to further expand our growing research and innovation footprint into the premier South San Francisco life science cluster with the acquisition of this outstanding portfolio,” said Debra Cafaro, chief executive officer with Ventas.

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Source:: The Mercury News – Entertainment

      

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