Equity Office is the owner of 50 million square feet of office space. The company is owned by funds managed by The Blackstone Group.
Video Equity Office
Investments
Notable properties owned by the company are as follows:
- 100 Summer Street
- 1740 Broadway
- San Francisco Ferry Building
- Wells Fargo Center (Minneapolis)
- Willis Tower
Maps Equity Office
History
The company was founded in 1976 by Sam Zell.
In 1997, the company acquired a property in North Dallas for $60 million.
In 2003, the company gained control of the San Francisco Ferry Building.
In 2005, the company sold 5 buildings in San Francisco for $400 million. The company also acquired a portfolio in California for $263 million.
In 2006, the company acquired a property near O'Hare International Airport for $59 million and a property in Boca Raton, Florida for $29.5 million. The company also acquired half-interest in two Miami office buildings for $249.8 million.
In February 2007, after a bidding war with Vornado Realty Trust, funds managed by The Blackstone Group completed the acquisition of the company for $39 billion and sold 8 buildings to affiliates of Harry Macklowe for $7 billion.
In April 2007, the company sold its portfolio in Washington, D.C. to Beacon Capital Partners for $6.5 billion.
In 2013, the company acquired the Hughes Center, an office and retail development in Las Vegas, for $347 million.
In January 2014, the company sold 1-3 Center Plaza in Boston to Shorenstein Properties for $307 million.
In April 2014, the company sold 28 State Street for $345 million.
In December 2014, the company sold its portfolio in Silicon Valley for $3.5 billion.
In 2015, the company acquired the Willis Tower for $1.3 billion.
In 2017, the company sold a property in San Jose, California for $82 million. The company also sold properties in San Diego, California for $97 million.
References
Source of article : Wikipedia
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