Hines and Sterling American Forfeit 333 Bush

Hines and Sterling American have decided to return 333 Bush Street to the lender. The 550K SF property was acquired at the peak of the market in 2007. The deal fell on its head in September 2008 when the law firm Heller Ehrman, a tenant anchoring 14 floors at the building, voted to dissolve.

The property was acquired at around $500 PSF, and was financed by Brookfield RE Finance and Munich Hypo.

[via Chronicle]

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