Shorenstein Properties

Shorenstein is a real estate investment company that owns interests in 22 million square feet (2.0×10^6 m2) of office space, including 7 million square feet (650×10^3 m2) of space in San Francisco, where it is one of the city's largest office landlords.[1] The company has sponsored 11 real estate funds with total equity commitments of $7.9 billion, including $648.5 million from the company.[2]

Shorenstein
TypePrivately-held
PredecessorMilton Meyer & Company
FounderWalter Shorenstein
HeadquartersSan Francisco
Key people
Brandon J. Shorenstein, (Chairman & CEO)
Glenn A. Shannon, (Vice-Chairman
Charles W. Malet, (President and Chief Investment Officer)
Websitewww.shorenstein.com
Footnotes / references
[1]

History

In 1946, after being discharged from the military, Walter Shorenstein joined Milton Meyer & Company, which was later renamed Shorenstein Company.

In the early 1990s, Walter Shorenstein stepped back from day-to-day operations of the company. His son, Douglas W. Shorenstein, became chief executive officer of the company in 1995. Walter Shorenstein died in 2010 at age 95[3] and Douglas Shorenstein died at age 60 of cancer in 2015.[4]

In 2007, the company acquired $1 billion worth of property in Portland, Oregon from EQ Office.[5]

In 2012, a fund managed by the company acquired 350 North Orleans and in 2015, it sold the property to EQ Office for $378 million.[6]

In January 2014, the company acquired 1-3 Center Plaza in Boston from EQ Office for $307 million.[7]

In January 2016, a fund managed by the company acquired Bank of America Plaza (Atlanta), the tallest building in Georgia.[8]

In February 2018, the company acquired Capella Tower for $255 million.[9]

References

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