Seven Equity Group Selected to Buy San Francisco Centre
The 1.2 million-square-foot mall purchase is expected to close in the first quarter of 2027.
Updated on Oct. 28, 2026 in Commercial
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Seven Equity Group has been selected to acquire 1.2 million square feet of the San Francisco Centre mall at 865 Market Street. This deal for the bulk of the retail property follows a long period of uncertainty after the mall went into foreclosure late last year.
Why it matters
The sale of the downtown shopping complex, which has been vacant and mired in ownership disputes since lenders took control in November 2025, marks a major step toward a potential reopening. Future operations for the site remain in flux while the deal moves toward a projected close next year.
Seven Equity Group secured 1.2 million square feet of the 1.5 million-square-foot mall property, with Fitch Ratings estimating a recovery value of $35 per square foot for a portion of the mortgage. While the buyer was selected after a final bidding round, the full financial terms remain unresolved.
The players
Seven Equity Group
An investment firm that has actively acquired multiple downtown properties and is now slated to purchase the San Francisco Centre.
B3 Investors
An investment firm currently pursuing the acquisition of the former Bloomingdale's building at the mall site.
CBRE
A commercial real estate services firm currently managing the sale of the retail property.
The details
CBRE is overseeing the sale after previous buyers, Presidio Bay Ventures and Prado Group, withdrew their interest in July 2026. Separately, B3 Investors is in talks to purchase the 350,000-square-foot former Bloomingdale's building in a deal valued at $40 million. The Seven Equity transaction is expected to finalize in the first quarter of 2027.
Timeline
November 2025: Lenders took control of the mall through foreclosure.
July 2026: Previous purchase agreement with Presidio Bay and Prado Group was canceled.
Q1 2027: Expected closing of the Seven Equity transaction.
Across the Bay
This deal follows the 2026 withdrawal of Presidio Bay Ventures and Prado Group, which had previously entered a purchase agreement for the property. By moving forward with a new buyer, the site attempts to resolve the instability that stalled revitalization efforts earlier this year.
Residents near Market Street can expect the transition process to continue through early 2027 as the deal heads toward closing. The site’s future remains limited to private transaction activity until ownership officially transfers and any plans for reopening are announced.
The takeaway
The selection of a new buyer suggests a path toward resolving the long-standing foreclosure at one of the city's largest retail sites. Watch for official closing announcements in the first quarter of 2027 to see if property management shifts lead to immediate changes for the 865 Market Street frontage.
Further reading
For more on shifts in the local retail landscape, see San Francisco Commercial.
Source note: This article includes information reported by The Real Deal New York.
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