Cyprus-based Yoda PLC closed on the Transamerica Pyramid on March 27, paying $725 million — confirmed by deed recordings and Yoda's own announcement. Its CEO is promising to "exploit" 800,000 square feet of development rights. No filing has touched the observation deck.

The deed for 600 Montgomery Street was recorded on March 27, 2026, transferring the Transamerica Pyramid from developer Michael Shvo to Yoda PLC, a Cyprus-based investment firm, for $725 million — a figure Yoda's own completion announcement broke down as $691.6 million for the property plus $34 million to buy out Shvo's management agreement and right of first offer. In 2020, Shvo and Deutsche Finance America had paid $650 million for the complex; the subsequent renovation, designed by Foster + Partners, ran to $400 million and completed in 2024. Yoda acquired the building for $725 million against a combined investment that reached $1.05 billion; Bisnow characterized the transaction as a sale "at a steep discount."

Yoda's CEO, Alon Bar, called the acquisition "a very strategic milestone" in the firm's official announcement. He said Yoda plans to revitalize Transamerica Redwood Park and "exploit some 800,000 sqft of development rights in the property," describing the tower as "the anchor from which we intend to expand, accelerating the growth of our U.S. portfolio."

Not in the announcement: any plan to reopen the building's upper floors to the general public.

The Pyramid's observation deck — once on the 27th floor — went dark sometime in the 1990s. Post-September 11 security restrictions further cut off general lobby access. When Shvo's renovation reopened the complex in 2024, it delivered a restored ground-floor lobby and a freshened Redwood Park, both publicly accessible. The upper floors became a private skybar and Core Club membership spaces. Rents exceeded $300 per square foot and occupancy reached approximately 85 percent, according to Shvo's statement to Commercial Observer — figures that helped justify the asking price even if they didn't recover the full investment.

Four months after the March 27 closing, Yoda has filed no permits with the city, no zoning applications, and no submissions to the San Francisco Landmarks Preservation Board related to development or public access, per San Francisco Chronicle reporting. The 800,000 square feet of development rights Bar cited in his announcement have no public-process filing attached to them.

Bayerische Versorgungskammer, the German pension fund that helped finance Shvo's 2020 acquisition, had marked the broader portfolio as likely to produce $1 billion in losses before the deal cleared, according to Bloomberg — a characterization Shvo disputed.

The Redwood Park still has its benches. The lobby door is open to anyone walking in from Montgomery Street. The view from somewhere near the top — on clear days, both bridges and Marin — belongs to whoever can afford Club membership or a lease at $300 a foot.