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REAL ESTATE INSIDER

FRIT’s San Francisco property fetches $69.3M

Rockville-based Federal Realty Investment Trust sold a seven-story property in San Francisco’s Union Square district for $69.3 million.

The building at 150 Post St. consists of 105,000 square feet of retail and office space. So far this year the company completed $123 million in dispositions. FRIT touted the sale as evidence of its commitment to a “balanced and disciplined approach to our balance sheet and capital funding needs.”

“This non-core asset sale reflects the competitive investment sales market in San Francisco,” Jeff Berkes, president, West Coast, said in a statement. “We continue to evaluate non-strategic disposition opportunities within our portfolio as the transaction markets for well-located assets remains strong.”

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