Shorenstein Properties: Difference between revisions
Content deleted Content added
m Dropped "Properties" from Name, updated Key People |
MainlyTwelve (talk | contribs) rm link to this page |
||
| (20 intermediate revisions by 13 users not shown) | |||
| Line 1: | Line 1: | ||
{{Short description|American real estate investment firm}} |
|||
{{Infobox company |
{{Infobox company |
||
| name |
| name = Shorenstein |
||
| predecessor = Milton Meyer & Company |
| predecessor = Milton Meyer & Company |
||
| type |
| type = [[Privately held company|Private]] |
||
| founder |
| founder = [[Walter Shorenstein]] |
||
| location |
| location = [[San Francisco]] |
||
| key_people |
| key_people = Brandon J. Shorenstein, <small>(Chairman & CEO)</small><BR>Glenn A. Shannon, <small>(Vice-Chairman</small><BR>Charles W. Malet, <small>(President and Chief Investment Officer)</small> |
||
| homepage |
| homepage = {{URL|https://www.shorenstein.com/}} |
||
| footnotes |
| footnotes = <ref name=brochure>{{cite web | url=https://shorenstein.com/wp-content/files_mf/shor_brochure_10201830.pdf | title=Shorenstein: COMPANY OVERVIEW | publisher=Shorenstein}}</ref> |
||
}} |
}} |
||
'''Shorenstein''' is a |
'''Shorenstein''' is a real estate investment company based in San Francisco that owns interests in {{convert|23 |e6sqft}} of office space throughout the United States.<ref name=brochure/> The company has sponsored twelve closed-end real estate funds, with total equity commitments of $8.8 billion, including $723.5 million from the company.<ref>{{cite web | url=https://shorenstein.com/funds/investment-activities | title=Shorenstein: Investment Activities | publisher=Shorenstein}}</ref> |
||
The main office of the social media company [[Twitter]] at 1355 [[Market Street (San Francisco)|Market Street]], San Francisco, belongs to Shorenstein, as was reported when Twitter was in arrear for paying rent.<ref>{{Cite news |title=Musk's Twitter reportedly hasn't paid rent on its office spaces for weeks |last=Capoot |first=Ashley |date=2022-12-13 |access-date=2022-12-31 |publisher=[[CBS News]]|url=https://www.cnbc.com/2022/12/13/twitter-reportedly-hasnt-paid-rent-on-its-office-spaces-for-weeks.html}}</ref> |
|||
==History== |
==History== |
||
In 1946, after being discharged from the military, [[Walter Shorenstein]] joined Milton Meyer & Company, which was later renamed Shorenstein Company. |
In 1946, after being discharged from the military, [[Walter Shorenstein]] joined Milton Meyer & Company, which was later renamed Shorenstein Company.{{Citation needed|date=May 2020}} |
||
In the early 1990s, Walter Shorenstein stepped back from day-to-day operations of the company. His son, [[Douglas W. Shorenstein]], became chief executive officer of the company in 1995. Walter Shorenstein died in 2010 at age 95<ref>{{cite news | url=https://www.latimes.com/local/obituaries/la-me-walter-shorenstein-20100626-story.html | title=Walter H. Shorenstein dies at 95; Democratic Party fundraiser and San Francisco real estate mogul | first=DENNIS | last=MCLELLAN | work=[[Los Angeles Times]] | date=June 26, 2010}}</ref> and Douglas Shorenstein died at age 60 of [[cancer]] in 2015.<ref>{{cite news | url=https://www.bizjournals.com/sanjose/news/2015/11/25/san-francisco-real-estate-tycoon-doug-shorenstein.html | title=San Francisco real estate tycoon Doug Shorenstein has died | first=Riley | last=McDermid | work=[[American City Business Journals]] | date=November 25, 2015}}</ref> |
In the early 1990s, Walter Shorenstein stepped back from day-to-day operations of the company. His son, [[Douglas W. Shorenstein]], became chief executive officer of the company in 1995. Walter Shorenstein died in 2010 at age 95<ref>{{cite news | url=https://www.latimes.com/local/obituaries/la-me-walter-shorenstein-20100626-story.html | title=Walter H. Shorenstein dies at 95; Democratic Party fundraiser and San Francisco real estate mogul | first=DENNIS | last=MCLELLAN | work=[[Los Angeles Times]] | date=June 26, 2010}}</ref> and Douglas Shorenstein died at age 60 of [[cancer]] in 2015.<ref>{{cite news | url=https://www.bizjournals.com/sanjose/news/2015/11/25/san-francisco-real-estate-tycoon-doug-shorenstein.html | title=San Francisco real estate tycoon Doug Shorenstein has died | first=Riley | last=McDermid | work=[[American City Business Journals]] | date=November 25, 2015}}</ref> In 2020, Brandon Shorenstein, Doug's son, was named chairman and CEO. |
||
Shorenstein, purchased the [[Aon Center (Los Angeles)|Aon Center]] in 2014, and sold the building to a consortium of investors including Carolwood in December 2023.<ref>{{cite news |last1=Gittelsohn |first1=John |title=LA’s Third-Tallest Tower Sells for 45% Below 2014 Price |url=https://www.bloomberg.com/news/articles/2023-12-23/la-s-third-tallest-tower-sells-for-45-below-2014-price?srnd=premium&sref=CIpmV6x8 |access-date=23 December 2023 |work=Bloomberg.com |date=23 December 2023 |language=en}}</ref> |
|||
In 2007, the company acquired $1 billion worth of property in [[Portland, Oregon]] from [[EQ Office]].<ref>{{cite news | url=https://www.bizjournals.com/portland/news/2012/03/19/equity-sells-beaverton-apartments-for.html | title=Equity Residential exits Portland with $111M sale | first=Wendy | last=Culverwell | work=[[American City Business Journals]] | date=March 19, 2012}}</ref> |
|||
In 2012, a fund managed by the company acquired [[350 North Orleans]] and in 2015, it sold the property to [[EQ Office]] for $378 million.<ref>{{cite news | url=https://www.bisnow.com/chicago/news/mixed-use/blackstone-group-closes-on-378m-river-north-point--sale-48090 | title=Blackstone Group Closes on $378M River North Point Sale | first=Chuck | last=Sudo | work=[[Bisnow Media]] | date=July 16, 2015}}</ref> |
|||
In January 2014, the company acquired 1-3 Center Plaza in Boston from [[EQ Office]] for $307 million.<ref>{{cite news | url=https://www.bizjournals.com/boston/news/2014/01/09/blackstons-equity-office-sells-center.html | title=Blackstone's Equity Office sells 1-3 Center Plaza for $307 million | first=Thomas | last=Grillo | work=[[American City Business Journals]] | date=January 9, 2014}}</ref> |
|||
In January 2016, a fund managed by the company acquired [[Bank of America Plaza (Atlanta)]], the tallest building in [[Georgia (U.S. state)|Georgia]].<ref>{{cite news | url=https://www.bizjournals.com/atlanta/real_talk/2016/01/shorenstein-properties-buys-bank-of-america-plaza.html | title=Shorenstein Properties buys Bank of America Plaza | first=Douglas | last=Sams | work=[[American City Business Journals]] | date=January 7, 2016}}</ref> |
|||
In February 2018, the company acquired Capella Tower for $255 million.<ref>{{cite news | url=https://www.bizjournals.com/twincities/news/2018/02/23/capella-tower-sells-for-255m-to-familiar-investor.html | title=ASB Real Estate sells Capella Tower for $255 million to Shorenstein Properties | first=Nick | last=Halter | work=[[American City Business Journals]] | date=February 23, 2018}}</ref> |
|||
==References== |
==References== |
||
| Line 32: | Line 27: | ||
[[Category:Companies based in San Francisco]] |
[[Category:Companies based in San Francisco]] |
||
[[Category:Real estate companies of the United States]] |
[[Category:Real estate companies of the United States]] |
||
{{company-stub}} |
|||
Latest revision as of 16:53, 23 December 2023
| Company type | Private |
|---|---|
| Predecessor | Milton Meyer & Company |
| Founder | Walter Shorenstein |
| Headquarters | San Francisco |
Key people | Brandon J. Shorenstein, (Chairman & CEO) Glenn A. Shannon, (Vice-Chairman Charles W. Malet, (President and Chief Investment Officer) |
| Website | www |
| Footnotes / references [1] | |
Shorenstein is a real estate investment company based in San Francisco that owns interests in 23 million square feet (2.1×106 m2) of office space throughout the United States.[1] The company has sponsored twelve closed-end real estate funds, with total equity commitments of $8.8 billion, including $723.5 million from the company.[2]
The main office of the social media company Twitter at 1355 Market Street, San Francisco, belongs to Shorenstein, as was reported when Twitter was in arrear for paying rent.[3]
History[edit]
In 1946, after being discharged from the military, Walter Shorenstein joined Milton Meyer & Company, which was later renamed Shorenstein Company.[citation needed]
In the early 1990s, Walter Shorenstein stepped back from day-to-day operations of the company. His son, Douglas W. Shorenstein, became chief executive officer of the company in 1995. Walter Shorenstein died in 2010 at age 95[4] and Douglas Shorenstein died at age 60 of cancer in 2015.[5] In 2020, Brandon Shorenstein, Doug's son, was named chairman and CEO.
Shorenstein, purchased the Aon Center in 2014, and sold the building to a consortium of investors including Carolwood in December 2023.[6]
References[edit]
- ^ a b "Shorenstein: COMPANY OVERVIEW" (PDF). Shorenstein.
- ^ "Shorenstein: Investment Activities". Shorenstein.
- ^ Capoot, Ashley (2022-12-13). "Musk's Twitter reportedly hasn't paid rent on its office spaces for weeks". CBS News. Retrieved 2022-12-31.
- ^ MCLELLAN, DENNIS (June 26, 2010). "Walter H. Shorenstein dies at 95; Democratic Party fundraiser and San Francisco real estate mogul". Los Angeles Times.
- ^ McDermid, Riley (November 25, 2015). "San Francisco real estate tycoon Doug Shorenstein has died". American City Business Journals.
- ^ Gittelsohn, John (23 December 2023). "LA's Third-Tallest Tower Sells for 45% Below 2014 Price". Bloomberg.com. Retrieved 23 December 2023.
 | This corporation or company article is a stub. You can help Wikipedia by expanding it. |