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San Francisco’s Transamerica Pyramid Sells for $650 Million

  • Shvo, Deutsche Finance complete deal amid market uncertainty
  • Available space has spiked in San Francisco during pandemic
The TransAmerica Pyramid building in San Francisco, California.

The TransAmerica Pyramid building in San Francisco, California.

Photographer: David Paul Morris/Bloomberg
Updated on

The Transamerica Pyramid, a fixture of San Francisco’s skyline for decades, has a new owner.

A group led by New York developer Michael Shvo’s namesake company and Deutsche Finance America said on Wednesday that it had completed its previously announced acquisition of the the building from Aegon NV. The purchase price was $650 million for the 48-story tower and the surrounding complex, including a redevelopment site and a park with a grove of mature redwood trees.