(Read more on the industrial market.)

LAGUNA NIGUEL, CA-A joint venture of the locally based MullerCo. and GE Real Estate that acquired a three-million-sf portfolioof office, industrial and retail properties in Southern Californiaand Arizona from Thousand Oaks-based Silagi Development &Management paid a price north of $460 million. The deal,reported earlier on GlobeSt.com but without a price, included a$120-million investment by GE.

The GE-Muller JV won the deal in bidding with about 20 otherprospective buyers, according to vice chairman Kevin Shannon of CBRichard Ellis, who tells GlobeSt.com that the properties wereoffered both as a single portfolio and as three separate office,industrial and retail deals. Shannon was part of a CBRE teamrepresenting Silagi that included vice chairman Darla Longo,executive vice president Barbara Emmons and senior vice presidentKen White.

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
NOT FOR REPRINT

© 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.