SAN FRANCISCO-Locally based private equity investment manager, GI Partners, has purchased a data center-anchored property in Hayward, CA. The investment was made through DataCore LP, a fully discretionary core real estate fund managed by GI Partners.
While the firm could not disclose a price to GlobeSt.com, we did learned that this is the first San Francisco Bay Area acquisition for firm's DataCore Real Estate Fund. The California State Teachers' Retirement System created DataCore in 2012 as a core investment vehicle to invest in technology-advantaged real estate in the US, including data centers, internet gateways, corporate campuses for technology tenants and life science properties located in primary MSAs and leased to industry leading tenants, according to a prepared statement. In November 2012, the fund acquired its first asset, Lightwave Corporate Center in San Diego.
According to Michael Wong, VP of GI Partners, “Corporate Research Center is a state-of-the-art Bay Area asset with an excellent tenant roster that continues to demonstrate its commitment to the property by building out extensive data center and other technology-related improvements.”
More recently, DataCore acquired a three-building, 299,387-square-foot property located at 26460, 26462 and 26464 Corporate Avenue in San Francisco's East Bay. The property is leased on a long-term basis to a tech subsidiary of an investment grade Fortune 500 company, Ultra Clean Holdings Inc. and Moximed Inc.
GlobeSt.com will update this story as more information becomes available.
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