Blackstone has taken a big hit to offload two 13-story office buildings in Santa Ana, CA, selling the 560K SF Griffin Towers office park to a joint venture of Barker Pacific Group (BPG) and Kingsbarn Realty Capital for $82M—36% less than the CRE giant paid for the Class A property in 2014.

Blackstone bought the Griffin Towers campus from Angelo Gordon and Lincoln Property Co. for $129M. The towers, located at 6 Hutton Centre Drive in Santa Ana, were built in 1987. The property, in proximity to John Wayne Airport near the 55 and 406 freeways, includes a fitness center and a six-story parking facility.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Jack Rogers



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.