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MUFG to sell San Francisco office tower in faltering market

Deal comes as Japanese group shifts U.S. strategy to focus on wholesale banking

MUFG acquired the San Francisco building that later became Union Bank headquarters when it bought the Bank of Tokyo in 1996.

TOKYO -- Mitsubishi UFJ Financial Group (MUFG) has made a formal decision to unload the former headquarters building of San Francisco-based Union Bank, the U.S. regional banking subsidiary it sold in 2021, Nikkei Asia has learned.

The 22-story office tower, built in 1977 and located at 350 California Street in San Francisco, is set for a sale, a person familiar with the matter said, adding that the bank has not sold the property yet or chosen a buyer.

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