The Bronco Fund, co-sponsored by GSH and ABC, announced today the purchase of the Gallo Building in San Francisco.  The building, comprised of 90,348 sq ft of net rentable area and 175 parking spaces, is located in San Francisco’s South Financial District, one of the U.S’s premiere office markets.  The two companies, along with Broe, the Fund’s property manager, plan to make improvements to the building and the tenant before selling it.

According to Fahed Boodai, CEO of GSH “We are very excited by this acquisition as it is an exceptional start to the Fund and really illustrates our strategy for the fund as well as Broe’s capability for unveiling opportunities and delivering on them through active management and adding value."

The Bronco Fund’s target is to acquire a diversified portfolio of offices and industrial assets located in major US cities using the “value add” investment strategy. The fund is anticipated to achieve an IRR of 15%.