RREEF was forced to sell the property, a complex of industrial buildings off of the 57 freeway near Katella Avenue, in 1986 because the partnership that owned the development was structured to sell at a pre-set time.
Stadium Plaza Business Park has been on the market for only a few months. Spieker decided to sell the project as part of an effort to reallocate capital in the search for better returns.
John Lutzius, a senior analyst with Newport Beach-based Green Street Advisors, one of the nation's most influential and respected REIT research firms, says many REITs talk about reallocating capital, but that Spieker is among the few who are actually doing it.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
