Peter J. Roth

• Transbay Tower. Represented Boston Properties in its acquisition in a joint venture with Hines of 101 First Street, a 50,000 square-foot land parcel in San Francisco, sold by Transbay Joint Powers Authority for approximately $192 million. Allen Matkins is continuing to represent longtime client, Boston Properties, in its development of the Transbay Transit Center on the recently acquired site. The acquisition paves the way for Boston Properties and Hines to develop Transbay Transit Tower, a new Pelli Clarke Pelli-designed building adjacent to the Transbay Transit Center. At 1,070 feet, the tower is set to be the tallest on the West Coast and the seventh tallest building in the United States.
• 410 Townsend Street and 539 Bryant. Represented PMI Properties in the sale of two creative office buildings in San Francisco’s SOMA district to affiliates of Zurich Alternative Asset Management, LLC: 75,000-square-foot 410 Townsend Street for $47 million and 55,000-square-foot 539 Bryant Street for $35.2 million. PMI Properties gained a large profit from the transactions, having acquired 410 Townsend Street for $16.8 million in 2006 and 539 Bryant Street for $14.9 million in 2007. 410 Townsend Street is 100 percent leased to Adobe Systems Inc pursuant to a represented transaction completed in Dec 2012.
• Oakland City Center. Represented Strada Investment Group and Angelo Gordon & Co. in the $65 million acquisition of two Oakland City Center buildings, the 11-story 1300 Clay Street and the 12-story 505 14th Street, from CBRE Investors in one of the largest office sales in Oakland of 2013. The buildings, totaling 367,357 square feet, were 90 percent leased at the time of the transaction. Oakland City Center is considered the city’s premier office and retail development, in part because of its proximity to BART.
• The Heights at Del Mar. Represented Kilroy Realty Corporation in the $126 million acquisition of The Heights at Del Mar, a 13.8-acre, high-end office campus totaling 219,000 square feet, from Prudential Real Estate. The transaction represents the largest deposition/acquisition in San Diego’s Del Mar Heights submarket since 2007. The fully-leased Heights campus consists of an office building and a life science building, both LEED Silver-certified, an underground parking structure, and a 90,000-square-foot land parcel permitted for a high-tech office building
• Westlake Terry. Represented Kilroy Realty Corporation on the purchase of Westlake Terry, a two building 320,399 square-foot, Class A office property in the high growth Seattle submarket of South Lake Union for approximately $170 million. The LEED Gold certified property occupies a full city block at 320 Westlake Avenue North and 321 Terry Avenue North.
• 550 Kearny. Represented Highridge Partners in its purchase and subsequent sale of 550 Kearny Street, a 10-story, 196,000-square-foot office building with ground floor retail space, in San Francisco’s financial district. Highridge Partners, which acquired the asset with Montgomery Capital Partners, obtained title for the property at a discounted $37.75 million through a deed after purchasing a junior loan on the building from one of the lenders in lieu of foreclosure. Highridge Partners sold the building at a large profit to New York-based Brickman for $78 million.
• Sunset Media Tower. Represented Kilroy Realty Corporation in the $79 million acquisition of the 22-story Sunset Media Tower at 6255 Sunset Boulevard in Hollywood. Kilroy Realty Corporation acquired the structure, one of Hollywood’s largest office buildings, at a significant discount to replacement cost from a group of 34 investors that owned the property in a tenancy-in-common arrangement.
• Kilroy Industrial Portfolio. Sale of 44 properties totaling around 3.7 million square feet, comprising the company’s entire industrial portfolio along with two small office projects, primarily located in Orange County, CA in two tranches to LBA Realty and TIAA-CREF for $355 million.
• LinkedIn Campus. Represented Kilroy Realty Corporation in the $315 million acquisition of a 12-acre site in Sunnyvale, CA, fully entitled for the development of a 587,000-square-foot campus for LinkedIn Corporation, from JP DiNapoli Companies. The property was highly coveted due to the lease with LinkedIn, valued at over $400 million over 12 years. Allen Matkins also represented the seller in the transaction. The purchase was Kilroy Realty Corporation’s largest user-development deal in Northern California at the time and the biggest such transaction in Silicon Valley of that year.
• 350 Mission. Represented Kilroy Realty Corp in the acquisition of 350 Mission Street in the heart of SoMa in San Francisco. Kilroy purchased the fully entitled project from 350 Mission Street, an entity controlled by GLL Real Estate Partners, for $52 million. Kilroy will invest an additional $200 million to develop the spec tower, adapting the company’s collaborative workspace philosophy to a high-rise environment with floor-to-ceiling windows and column-free floor plates.
• Columbia Square. Represented Kilroy Realty Corporation in its $65 million acquisition of Columbia Square, the historic former CBS headquarters, at 6121 West Sunset Boulevard in Hollywood. Kilroy plans to redevelop the fully entitled, 4.7-acre site for a mixed-use media campus, which will include 550,000 square feet of additional office, retail, and residential space. Peter is presently overseeing the negotiation of the retail leasing for the project.
• One Paseo. Having originally acquired the site for client, presently representing Kilroy in their One Paseo project, a proposed mixed-use project consisting of approximately 1.7 million square feet and termed as a "Main Street for Carmel Valley." The current site is only entitled for 500,000 square feet and is currently zoned for office use. Kilroy is in process to obtain a community plan amendment allowing them to change the approved use in addition to increasing the allowed building area from 500,000 to 1.7 million square feet.
• Runway at Playa Vista. Representing Lincoln Property Company and its Boston-based equity-partner, Alcion Ventures, in connection with their Runway at Playa Vista mixed-use development in Playa Vista, California. In addition to the completed four lead-tenant leases (Cinemark, Whole Foods, CVS and Chase), multiple space and restaurant leases have been executed with national and local retailers. The center will also feature 30,000 square feet of office space, and approximately 200 apartment/condo units. The center Grand Opening is targeted for November 2014.
• Skyline Tower. Represented Kilroy Realty Corporation in the $186 million acquisition of 24-story Skyline Tower, a 417,000-square-foot Class A office building in Bellevue, Washington, one of the region’s most desirable business districts popular with high-tech companies. The property was 92 percent leased at the time of the acquisition from seller, Beacon Capital Partners, with attractive tenants such as Expedia and Valve Corporation.
• Fremont Lake Union Center and Fremont Lake View. Represented Kilroy Realty Corporation in the acquisition of a three-building office campus known as Fremont Lake Union Center and Fremont Lake View from Metzler Realty Advisors Inc. for $145 million, which included the assumption of $34 million in debt. The 420,000-square-foot property was 100 percent leased to high-tech tenants, such as Adobe Inc., Tableau Software, and Deloitte software company Ubermind, at the time of the sale. The campus is located in Seattle’s booming Lake Union district, popular with high-tech tenants and the site of Amazon.com’s headquarters.
• Tribeca West. Represented Kilroy Realty Corporation in purchase of Tribeca West, a West Los Angeles entertainment-oriented property for $73 million. The seller was Ocean West Capital Partners.
• 301 Brannan. Represented Kilroy Realty Corp. in the acquisition of 301 Brannan Street in San Francisco for $30 million in cash. The Seller was Park Macarthur Associates, LLC, a Southern California based real estate investment company. The property is a six (6) story, 70,904 square foot building, and is fully leased to three tenants: Google, Inc., StumbleUpon, Inc., and ExactTarget, Inc. The acquisition was part of a forward 1031 Exchange and was the fifth class-A office building purchased by Kilroy in the Bay Area.
• 370 Third Street. Represented both LP 370 Third Owner, LLC (an affiliate of Cerberus Real Estate, as seller) and Kilroy Realty Finance Partnership, L.P. (an affiliate of Kilroy Realty Corporation, as buyer) in the sale and purchase of the improvements and tenant’s interest in a ground lease affecting 370 Third Street, the former Pacific Bell building, in San Francisco for $92 million. 370 Third Street Holdings, Inc., an affiliate of Brookfield and landlord under such ground lease, worked with Kilroy Realty Corporation to provide the consents necessary to effectuate both the “first leg” purchase of the improvements and ground lease interest by KR 370 3rd St, LLC, and subsequent “second leg” assignment to Kilroy Realty Finance Partnership, L.P., as part of a reverse 1031 Exchange.
• Yarrow Bay. Represented Kilroy Realty in their acquisition of the 276,000-square-foot Plaza Yarrow Bay office campus, a site entitled for 80,000 square feet of additional development, from Seattle-based Hal Real Estate Investments Inc. for $100.3 million. This was the largest office sale this year in the Puget Sound region. The purchase price consists of approximately $70 million in cash and the assumption of approximately $30 million in mortgage debt. The Plaza Yarrow Bay campus comprises four class A multi-tenant buildings, along with entitlements for a fifth, 80,000 square foot building. The site offers views of Lake Washington, and a 52-acre nature preserve surrounds the property.
• 303 Second Street. Represented Kilroy Realty Corp. in the acquisition of 303 Second St. in San Francisco for $237 million in cash. This transaction was Kilroy’s first acquisition in Northern California and represents the first true multi‐tenant Class A building to change hands since the economic collapse of 2008. The acquisition will be funded through a 8 million share stock offering at $34 million a share and borrowings under the company’s current $550 million revolving credit facility.
• 100 First Street. Represented Kilroy Realty Corp. in their purchase of San Francisco’s 100 First St. for more than $191.5 million or $408 a square foot. Beacon Capital Partners LLC, an institutional owner, sold Kilroy the 465,000-square-foot property which is located in San Francisco's South Financial District immediately adjacent to the city's Transbay Terminal transportation infrastructure project. The Class A offices were built in 1988. The 27-story property recently snagged the Internal Revenue Service as a new tenant.
• 9900 Wilshire Blvd. Represented Joint Treasure International Ltd, in the purchase of what is considered one of the highest profile real estate properties in the U.S. The eight‐acre, former Robinson’s May site at 9900 Wilshire Boulevard in Beverly Hills. Joint Treasure, a Hong Kong‐based private equity firm specializing in global real estate that represents major family investors, acquired the property for $148.3 million. Joint Treasure plans to create a landmark development on the site, which sits at the prominent intersection of Wilshire and Santa Monica Boulevards in Beverly Hills.
• 2211 Michelson. Represented Kilroy Realty Corporation in their purchase of 2211 Michelson Drive in Irvine, California for a total purchase price of approximately $103 million. The building is located in the Airport Area submarket of Orange County and encompasses approximately 271,600 rentable square feet. Completed in 2007, the building is one of the premier office properties in the region and is currently 92% leased. The 2211 Michelson building, in the John Wayne Airport area submarket, was developed on a 1.2‐acre site, that includes an adjacent six‐story parking structure providing parking at the ratio of six stalls per 1,000 square feet of building space.
• Mission City Corporate Center. Represented Kilroy Realty Corp. in their acquisition of three office buildings totaling 190,600 square feet at the four‐building Mission City Corporate Center for $52.55 million from L.A.‐based MPG Office Trust in a deal that follows Kilroy's acquisition in March of an 88,795‐square‐foot building at the Mission City complex for nearly $18 million. The sale of the 88,795‐square‐foot building, which is at 2385 Northside Dr., closed quickly because the financing on it was a construction loan. The transaction involving the other three buildings―at 2355, 2365 and 2375 Northside Dr.―closed later because it was financed with a conduit loan and the approval process for the assumption of that loan took longer to complete.
• Overlake Office Center. Represented Kilroy Realty Corp in the acquisition of Overlake Office Center in Redmond, Washington, a 122,000-square-foot office property for a purchase price of approximately $46.0 million. The building is located immediately adjacent to Microsoft Corporation's corporate headquarters campus.
• 255 California St. Represented Highridge Partners in their all cash $42 million acquisition of 255 California, a 173,747-square-foot Class A office building in San Francisco's North Financial District, from Lexington Realty Trust.
• One and Two Rincon Center. Represented Hudson Pacific Properties (NYSE:HPP) in their $40.3 million investment to acquire 51 percent of the 581,000-square-foot One and Two Rincon Center office project, which it intends to own in a joint venture with an affiliate of Beacon Capital Partners. The joint venture includes a put/call arrangement for the company to acquire the remainder of the Rincon Center properties for a pre-agreed price, which is projected to occur in the second quarter of 2011. One and Two Rincon Center is comprised of 482,000 square feet of office and 99,000 square feet of retail.
• 222 Kearney. Represented Hudson Pacific Properties in the purchase of 222 Kearny St. for $34.9 million. The price for the 144,440 square‐foot, two‐building property, $242 a square foot, was about 17 percent less than the $42 million Walton Street paid for the property in 2007. The debt on the building was subsequently bought by an affiliate of Canyon Capital Realty Advisors, which gained control of the property and was the seller in the Hudson Pacific deal.
• 999 Town & Country. Represented Kilroy (NYSE: KRC) in the purchase of 999 Town & Country Road, a 98,551‐square‐foot office building in the City of Orange for $22.25 million. The property is 100% leased to a single tenant, Aecom, a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government.
• Fremont Tech Center. Represented Swift Fremont Tech Investors LLP in their recent purchase of the remaining REO commercial condominium units at the Fremont Tech Center, a premiere bayside technology park that consists of commercial condominiums offering flexible office and R&D space ranging in size from 2,500 sq feet to 12,580 sq feet per unit.

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