Shorenstein Properties
| Company type | Privately-held |
|---|---|
| Predecessor | Milton Meyer & Company |
| Founder | Walter Shorenstein |
| Headquarters | San Francisco |
Key people | Michael E. Rossi, Co-Chairman Brandon J. Shorenstein, CO-Chairman Glenn A. Shannon, Vice-Chairman |
| Website | www |
| Footnotes / references [1] | |
Shorenstein Properties is a real estate investment company that owns interests in 22 million square feet (2,000,000 m²) of office space, including 7 million square feet (650,000 m²) of space in San Francisco, where it is one of the city's largest office landlords.[1] The company has sponsored 11 real estate funds with total equity commitments of $7.9 billion, including $648.5 million from the company.[2]
History
In 1946, after being discharged from the military, Walter Shorenstein joined Milton Meyer & Company, which was later renamed Shorenstein Company.
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[3] and Douglas Shorenstein died at age 60 of cancer in 2015.[4]
In 2007, the company acquired $1 billion worth of property in Portland, Oregon from EQ Office.[5]
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.[6]
In January 2014, the company acquired 1-3 Center Plaza in Boston from EQ Office for $307 million.[7]
In January 2016, a fund managed by the company acquired Bank of America Plaza (Atlanta), the tallest building in Georgia.[8]
In February 2018, the company acquired Capella Tower for $255 million.[9]
References
- ^ a b "Shorenstein: COMPANY OVERVIEW" (PDF). Shorenstein.
- ^ "Shorenstein: Investment Activities". Shorenstein.
- ^ 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.
- ^ Culverwell, Wendy (March 19, 2012). "Equity Residential exits Portland with $111M sale". American City Business Journals.
- ^ Sudo, Chuck (July 16, 2015). "Blackstone Group Closes on $378M River North Point Sale". Bisnow Media.
- ^ Grillo, Thomas (January 9, 2014). "Blackstone's Equity Office sells 1-3 Center Plaza for $307 million". American City Business Journals.
- ^ Sams, Douglas (January 7, 2016). "Shorenstein Properties buys Bank of America Plaza". American City Business Journals.
- ^ Halter, Nick (February 23, 2018). "ASB Real Estate sells Capella Tower for $255 million to Shorenstein Properties". American City Business Journals.