Lotus, Trigate Joint Venture Makes First Buy

LONG BEACH, CA—A new joint venture between Trigate Capital and Lotus Real Estate Partners has made its first Southern California acquisition, an 83,000-square-foot office property in Long Beach, CA. This acquisition is likely to be the first of several; the joint venture has announced that is plans to invest a total of $60 million in the Southern California market.

“This acquisition is an excellent example of the type of product we are actively seeking,” says Brian Walker, managing director at Lotus Capital Partners. “The asset was acquired well below replacement cost and will be repositioned for lease to one or multiple tenants. Moreover, its strategic location at the intersection of two major freeways makes the property highly attractive to companies desiring a central location in the Los Angeles basin.”