First major Class A office building transaction made in SF
Billionaire completes purchase in SF
Argonaut Private Equity Group, an investment motor for billionaire George Kaiser, has bought the 16-story office building at 250 Montgomery St. from Lincoln Property Co. in San Francisco. Kaiser who owns oil companies and investment firms has purchased the $40.8 million office building for $19.9 million, 25 percent of the building's replacement cost. This is the first Class "A" commercial transaction for San Francisco City this year. 250 Montgomery Street is currently occupied by California Pacific Bank, The American Land Conservancy and Bay Street Research.
George Kaiser who is the president and chief executive of Kaiser-Francis Oil Co. in Oklahoma ranked 43rd on forbes as a richest person in the world with net worth of $9 billion. Argonaut that was founded in 2002 manages nearly $3.5 billion in capital.
SF Business Times-8/10/2009