CBRE Global Investors is buying the Townsend Building office asset in San Francisco from Manchester Capital, according to people familiar with the matter.

IPE Real Asset understands that the manager is yet to complete the acquisition of the 123 Townsend Street and 118 King Street asset for $140m (€124m).

CBRE GI did not respond to a request for comment.

Last year, Manchester Capital put the fully-leased 137,624sqft asset up for sale with a $160m guide price.

Alexandria Real Estate Equities had agreed to acquire the asset but abandoned its plan earlier this year and had to incur a $10m breakup fee. 

Manchester Capital acquired the property for $18.3m in 2003.

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