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The Transamerica Pyramid is sold to Cyprus-based Yoda PLC, ending Michael Shvo’s tenure amid financial controversies.
The Transamerica Pyramid in San Francisco is being sold to Yoda PLC, a Cyprus-based firm, in a deal expected to close in April, marking its second ownership change in six years.
The sale involves Michael Shvo and German investor Bayerische Versorgungskammer (BVK), amid scrutiny over Shvo’s management of U.S. real estate projects, including a failed Miami redevelopment and a $200 million loan default.
Despite financial setbacks and a $250 million lawsuit from club CORE, the building is 85% leased with record rents exceeding $300 per square foot.
A $400 million renovation by Foster + Partners modernized the structure, and the sale is seen as a transition of stewardship, though the price remains undisclosed.
La Pirámide Transamerica es vendida a Yoda PLC, con sede en Chipre, poniendo fin al mandato de Michael Shvo en medio de controversias financieras.