Beacon Capital Partners LLC is acquiring the office property at 44 Montgomery St. in San Francisco from the State Teachers Retirement System of Ohio for $473 million, IPE Real Estate reported, citing sources.

According to the report, Beacon Capital will likely undertake renovations at the 631,255-square-foot property.

STRS Ohio, which is also a tenant in the building, acquired the asset in 1997 for $111 million, the report added.