New York-based MUFG Union Bank NA, a subsidiary of MUFG Americas Holdings Corp., sold its properties at 400 and 430 California St. in San Francisco to 400 California LLC for approximately $135 million.
The closing of the sale occurred simultaneously with the execution of the Dec. 14 purchase agreement, according to a Form 8-K filed Dec. 16.
The bank's 400 California St. location has served as its historic main banking branch, and its 430 California St. location has been its principal administrative office in the state, the filing noted.
The bank is set to relocate its main banking branch to the bank's property at 350 California St., and the administrative functions conducted at 430 California St. are expected to be relocated to other locations over the next several years.
400 California LLC is owned by Takenaka Corp. and Kennedy-Wilson Holdings Inc.