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Valencia Corporate Center purchased

Acquisition valued at $131 million

Posted: August 31, 2011 4:56 p.m.
Updated: August 31, 2011 4:56 p.m.
 

 

Pacific Office Properties Trust Inc. announced their purchase of a three-building office complex known as Valencia Corporate Center. Located in the Santa Clarita Valley the acquisition was valued at $31 million.

Located on a 13.8 acre campus, the corporate center has 194,000 square feet in three Class A office buildings. The commercial center was developed in 1999 and 2007.

Pacific Office, a real estate investment trust, will co-own the property through a joint venture with Angelo, Gordon & Co., a privately held investment manager.

"The acquisition of Valencia Corporate Center reflects our strategy of purchasing high quality value-add office buildings with institutional co-investors in markets that offer solid long term growth fundamentals," said Matthew J. Root, chief investment officer for Pacific Office.

 

 

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