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Report: DivcoWest, CalSTRS buy 49% stake in San Francisco office building

Real estate company DivcoWest and the California State Teachers' Retirement System paid $186.2 million for a 49% interest in the 199 Fremont St. office building in San Francisco, IPE Real Assets reported, citing sources familiar with the matter.

GLL Real Estate Partners will still hold the remaining stake in the 401,043-square-foot property, which has been valued at $380 million and is occupied by Stubhub and Fitbit, according to the report.

The firm representing DivcoWest declined to comment on the transaction, while GLL would not comment on the matter, the report noted.