$1 billion: Landmark Bay Area office complex is bought

SOUTH SAN FRANCISCO — In a mega-deal, a big investor has
bought a landmark office center that features two prominent office
towers in South San Francisco near Oyster Point, paying $1 billion
for the trophy property.

Ventas, a real estate investment trust, through one of its
subsidiary funds, has bought the Genesis South San Francisco office
campus, which consists of two big office buildings, including a
tower, and an amenities center, the buyer said Thursday.

“We are pleased to further expand our growing research and
innovation footprint into the premier South San Francisco life
science cluster with the acquisition of this outstanding
portfolio,” said Debra Cafaro, chief executive officer with
Ventas.

Source: FS – All – Real Estate News 1
billion: Landmark Bay Area office complex is
bought