Transwestern Investment Partners on Purchase of Two SOMO Office Buildings

SAN FRANCISCO-Transwestern Investment Co. LLC and Rawson, Blum and Leon have jointly acquired two SOMA office buildings totaling 240,000 sf.

Transwestern acquired the properties on behalf of its Aslan Realty Partners, LP investment fund. A block away from the Moscone Center, the acquisition includes an 11-story building at 55 Hawthorne, a five-story building at 631 Howard Street as well as a five-level parking structure.

With vacancy rates hitting new lows throughout San Francisco, and the tech-fueled growth of the SOMA district, Transwestern’s recent acquisition fits in well with the Aslan strategy. The fund focuses on undervalued assets, and those that are poised for value creation, as well as development projects.

The Fund closed in 1999 with commitments of $426 million. Transwestern Commercial Services will manage the two properties.

Aslan’s other acquisitions this year have included 1.3 million sf of office space, 20 retail and mixed-use properties in nine cities, as well as two apartment complexes.<P