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Kylli Buys San Francisco Tower Stake in $350 Million Deal

Kylli Inc. acquired a majority stake in San Francisco’s 225 Bush St. building in a deal valued at $350 million, giving the Chinese development firm office space in a market where technology companies are driving up rents.

Kylli bought interests held by Chicago-based GEM Realty Capital Inc. and Frankfurt-based SEB ImmoInvest, brokerage Jones Lang LaSalle Inc. said in a statement today. The 22-story, 583,000-square-foot (54,000-square-meter) building will be managed by San Francisco-based Flynn Properties, which will keep an ownership interest in the building, Jones Lang said.