Fund Closes $160M in Tech Deals

The assets are in California, Texas, New Jersey and Colorado. They include data center and telecommunications facilities, as well as office/research and development properties with technology tenants.

The properties, which are fully leased, are Ardenwood Corporate Park in Fremont, CA; NTT/Verio Premier Data Center in San Jose, CA; Weehawken Data Center in New Jersey; Denver Data Center in Englewood, CO; and VarTec in a North Dallas suburban market.

Ardenwood is a four-building, 307,000-sf biotech/R&D complex off Route 84 in a Silicon Valley biotechnology center. A portion of the property has been improved to accommodate biotechnology lab and manufacturing processes while the remainder of the property serves as traditional R&D/office space for computer hardware and software manufacturers.

NTT/Verio is a 131,000-sf data center and telecommunications networking facility that serves as one of two data center facilities in the US for Verio, a subsidiary of Nippon Telegraph & Telephone. The property also serves as a network node connecting NTT's network to primary peering and interconnection points on the West Coast.

VarTec is a 135,000-sf, single-story office and data center facility in the North Dallas suburban market. The property was completed in 1999 and is 100% leased on a long-term basis to VarTec Telecom.

The Weehawken Data Center is a 312,000-sf strategic data center and telecommunications facility serving the New York City and Northern New Jersey markets. Its telecom and data center tenants include the cable and wireless company Exodus, as well as Level 3 Communications and Electronic Data Systems (EDS).

The Denver Data Center is an 88,000-sf facility with 50,000 sf of data center space. The property includes a network operations center and a specialized security system.

Global Innovation Partners closed in March 2001 with $526 million of committed capital provided by CB Richard Ellis Investors and CalPERS. Real estate investments for the Fund in 2002 reached $318 million.