News

  • Breevast sells shopping centre in San Francisco bay area

    Amsterdam/Newport Beach, CA, September 2015 - Breevast US, Inc., a Newport Beach, CA
    based 100% subsidiary of commercial real estate developer and investor Breevast B.V. based
    in Amsterdam, The Netherlands, recently sold The Shops at Tanforan shopping centre to the
    Australia-based institutional investment manager QIC for USD 174,4 million.

    The shops at Tanforan are located close to San Francisco in the San Bruno bay area, which is
    where Google, Apple, Facebook and other tech companies are located. The centre counts over
    90.000 m² of retail space and its anchor tenants include Sears, Target, J.C. Penney and
    Century Theatres. Tanforan has excellent accessibility and exposure through nearby interstate
    roads.

    Breevast acquired the asset in 1997 and completed a major renovation along with a tenant
    upgrade and a significant expansion on the shopping centre in 2005, which added great value
    to the centre. For QIC, the acquisition of The Shops at Tanforan was an excellent opportunity
    to further expand its U.S. platform with high-quality assets for its clients. With over USD 55
    billion in funds under management, QIC is one of the largest Australian institutional
    investment management firms. Tanforan was the tenth U.S. retail property QIC has invested
    into on behalf of its Australian clients over the past 18 months.
     

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  • Breevast begins Dropbox office development in San Francisco

    Amsterdam/Newport Beach, CA, September 2014 - Breevast US, Inc., a Newport Beach, CA based 100% subsidiary of commercial real estate developer and investor Breevast B.V.  based in Amsterdam, The Netherlands, has commenced the development of an office building with approximately 12.500 square meters together with underground parking in the South of Market (SOMA) area located in San Francisco. Breevast US acquired the property in 2004 as a parking lot. The development is located within a few blocks from the AT&T Baseball Stadium (San Francisco Giants) and the Moscone Convention Center.
    The building has been 100% leased to Dropbox, a San Francisco based company, under a 12 year lease term with options to extend. The building will be part of a new corporate campus for Dropbox totaling approximately 30.000 square meters in which Breevast collaborated with Kilroy Realty Group, a Los Angeles based NYSE company, that will deliver an additional 17.500 square meters of space. The Breevast building has been designed by San Francisco architect Charles Blozies and will be constructed by Swinerton Builders as general contractor. US Bank National Association has financed the construction for the building. The project is expected to be completed in September 2015.
    Dropbox is a privately held file hosting service company based in San Francisco that offers cloud storage, file synchronization and client software solutions for millions of users. Dropbox was founded in 2007 by, amongst others, CEO Drew Houston. As recently reported in the Wall Street Journal, the company is suggested to have a valuation of approximately $10-15 billion dollars.
    In addition to the SOMA development project,  Breevast owns other San Francisco bay area investment properties.
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