{"id":1004089765,"date":"2014-01-15T07:33:27","date_gmt":"2014-01-15T15:33:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004089765"},"modified":"2022-12-08T18:10:48","modified_gmt":"2022-12-09T02:10:48","slug":"starwood-buys-san-diego-office-portfolio-for-327m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/starwood-buys-san-diego-office-portfolio-for-327m\/","title":{"rendered":"Starwood Buys San Diego Office Portfolio for $327M"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/STARWOOD.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004089768\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/starwood-buys-san-diego-office-portfolio-for-327m\/starwood-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/STARWOOD.jpg\" data-orig-size=\"800,534\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"STARWOOD\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/STARWOOD.jpg?w=800\" class=\"alignleft size-medium wp-image-1004089768\" alt=\"STARWOOD\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/STARWOOD.jpg\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/STARWOOD.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/STARWOOD.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/STARWOOD.jpg?resize=768,513 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>In two separate transactions, an affiliate of Starwood Capital Group Global has acquired 13 office properties totaling nearly 1.1 million square feet throughout the Sorrento Mesa and Rancho Bernardo submarkets of San Diego, Calif. from Kilroy Realty Corporation for $327 million.<\/p>\n<p>HFF marketed the properties on behalf of the seller.<\/p>\n<p>On the heels of a sale of\u00a04910 Directors Place\u00a0in December, a second transaction of a 12-property office portfolio was completed with buildings located at 10020 Pacific Mesa Boulevard., 6055 Lusk Ave., 5010 and 5005 Wateridge Vista Drive, 15435 and 15445 Innovation Drive, and 15051, 15073, 15231, 15253, 15333 and 15378 Avenue of Science.<\/p>\n<p>\u201cThe sales price reflects strong investor demand for well-located, high-quality properties,\u201d John Kilroy, Kilroy Realty\u2019s chairman, president &amp; CEO, said in a company statement. \u201cThe successful transaction demonstrates our team\u2019s ability to execute on our core investment philosophy and create meaningful value in each part of the real estate investment cycle.\u201d<\/p>\n<p>The 12-building portfolio, which includes one-, two-, and three-story office buildings, was 91 percent leased at the time of the sale. For the portfolio, HFF arranged a variable-rate acquisition loan on behalf of the buyer through Wells Fargo Bank and CIBC as the senior lenders and Goldman Sachs as the mezzanine lender.<\/p>\n<p>According to Kilroy, the company\u00a0will reinvest the proceeds into its expanding\u00a0West Coast\u00a0office development program and other potential acquisition opportunities.<\/p>\n<p>The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos and Ryan Gallagher, and senior managing director and co-head of HFF\u2019s national office investment sales platform Michael Leggett.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In two separate transactions, an affiliate of Starwood Capital Group Global has acquired 13 office properties totaling nearly 1.1 million square feet throughout the Sorrento Mesa and Rancho Bernardo submarkets of San Diego from Kilroy Realty Corp. for $327 million.<\/p>\n","protected":false},"author":451,"featured_media":1004089768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1608,15],"tags":[],"class_list":["post-1004089765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-san-diego","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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