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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Intero Agent Efi Luzon Does It Again with $250 Million Sale of I. Magnin Building in San Francisco

February 12, 2019
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The I. Magnin building, located at 233 Geary St. in San Francisco’s historic Union Square, was sold by Macy’s to Efi Luzon’s client Sand Hill Property Co. (Photo: Business Wire)

CUPERTINO, Calif.--(BUSINESS WIRE)--Feb 12, 2019--Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America, Inc., is proud to announce that top Intero agent, Efi Luzon, has closed a $250 million transaction on one of the most iconic assets with an irreplaceable location in San Francisco. Located at the center of the world-renowned Union Square district.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190212005330/en/

The I. Magnin building, located at 233 Geary St. in San Francisco’s historic Union Square, was sold by Macy’s to Efi Luzon’s client Sand Hill Property Co. (Photo: Business Wire)

The I. Magnin building, located at 233 Geary St. in San Francisco’s historic Union Square, was sold by Macy’s to Luzon’s client Sand Hill Property Co., the well-renowned and most prolific developer in the Bay Area, located in Palo Alto, CA.

Luzon’s $250 million transaction is the third largest transaction in the 16-year history of Intero. In fact, Luzon has the top-three transactions in the history of the company, which include:

Large multi-unit transaction in Palo Alto, CA - $412,500,000 Vallco Mall in Cupertino, CA - $320,000,000 I. Magnin building in San Francisco, CA - $250,000,000

“This is a transaction that was many years in the making,” said Efi Luzon, Senior Vice President of Intero Commercial. “I am proud to have represented my client and effectively navigated such a complex deal for such an iconic property.”

Luzon started with Intero in 2004 and has had a stellar career with the firm. In that 15-year timeframe, Luzon has had several billion dollars in real estate sales and in 2017, he was recognized by RealTrends and The Wall Street Journal as the number one agent in California and number two agent nationally, with more than $800 million in sales. In 2015, Luzon earned the most coveted award from Intero with his induction into the Hall of Fame.

“The entire Intero Family is proud of the accomplishments of Efi and how he represents Intero in the real estate community,” said Tom Tognoli, Intero President & Chief Executive Officer. “His drive and work ethic are second to none and we wish him nothing but continued success.”

About the Intero® Brand:

Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America Inc., serves Northern California with 18 offices throughout the greater Silicon Valley. The Intero Franchise network is comprised of 55 affiliates located in Alabama, California, Nevada, Tennessee and Texas. The company is headquartered in California’s Silicon Valley.

Find more information about Intero at www.intero.com. Find more information about HomeServices at http://www.homeservices.com/.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190212005330/en/

CONTACT: Efi Luzon

(650) 465-3883

eluzon@interocommercial.com

http://efiluzon.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Intero

Copyright Business Wire 2019.

PUB: 02/12/2019 11:00 AM/DISC: 02/12/2019 11:01 AM

http://www.businesswire.com/news/home/20190212005330/en