PREF 580 Market LLC, an affiliate of San Diego-based Paragon Real Estate Fund, has acquired the office and retail building located at 576-580 Market Street in downtown San Francisco.  This is Paragon’s first foray in the San Francisco market.

The 35,000 square foot property, located within downtown San Francisco’s financial district, was built in 1923 and was 100% occupied at the time of purchase.

Paragon specializes in urban retail and is managed by Roberto Jinich, Ricardo Jinich and Dan Berkus.  Paragon’s flagship fund, PREF, has acquired 13 properties in the past 36 months, mostly in the urban retail space in coastal/urban markets.  The company, founded in 1998, acquires and develops real estate projects in select urban markets across the US.