{"id":1004134384,"date":"2016-01-07T07:59:56","date_gmt":"2016-01-07T15:59:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134384"},"modified":"2020-04-15T09:55:13","modified_gmt":"2020-04-15T17:55:13","slug":"gi-partners-increases-data-center-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gi-partners-increases-data-center-portfolio\/","title":{"rendered":"GI Partners Increases Data Center Portfolio"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/SynergPark.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004134385\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/gi-partners-increases-data-center-portfolio\/synergpark\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/SynergPark.jpg\" data-orig-size=\"893,588\" 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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"SynergPark\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/SynergPark.jpg?w=893\" class=\"alignright size-medium wp-image-1004134385\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/SynergPark.jpg\" alt=\"SynergPark\" width=\"300\" height=\"198\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/SynergPark.jpg 893w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/SynergPark.jpg?resize=300,198 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/SynergPark.jpg?resize=768,506 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"https:\/\/www.gipartners.com\/\" target=\"_blank\" rel=\"nofollow\">GI Partners<\/a> has acquired Synergy Park, an approximately 300,000-square-foot data center and office property in Richardson, Texas, through DataCore, L.P., a $500 million fully discretionary core real estate fund managed by GI Partners on behalf of The California State Teachers\u2019 Retirement System.<\/p>\n<p>\u201cWe are excited to add Synergy Park to our portfolio and look forward to continuing or building relationships with the tenants, as appropriate,\u201d Mike Armstrong, GI Partners\u2019s principal, said in a prepared release. \u201cThe data center use and abundant infrastructure were attractive to us, with approximately 51,000 square feet of raised floor and ample redundancy.\u201d<\/p>\n<p>DataCore was created in 2012 as a core investment vehicle to invest in technology-advantaged real estate in the U.S., and has acquired approximately 1.8 million square feet of properties.<\/p>\n<p>Originally developed in 1989 and renovated several times over the decades, Synergy Park\u00a0is located north adjacent to the University of Texas at Dallas campus in Richardson and is leased to university affiliates and a respected data center solutions provider.<\/p>\n<p>\u201cThe university adjacency was attractive as well,\u201d Armstrong said. \u201cThe Dallas MSA remains one of the most dynamic data center markets in the country, bolstered by a strong, growing economy.\u201d<\/p>\n<p>In a separate transaction, GI Partners acquired 11525 Main St., a 92,800-square-foot mission-critical data center facility located in Broomfield, Col., through TechCore, LLC, an approximately $1 billion discretionary core real estate fund managed by GI Partners on behalf of the California Public Employees\u2019 Retirement System.<\/p>\n<p>\u201cWe are very pleased to own the property and strengthen GI\u2019s long-term relationship with TIAA-CREF,\u201d Michael Wong, GI Partners\u2019 director, said in a prepared release. \u201cThe facility\u2019s high-quality data center improvements and critical nature make it a compelling addition to the TechCore portfolio.\u201d<\/p>\n<p>TechCore was formed in early 2012 to acquire technology-advantaged properties, and has more than 2.9 million square feet of mission-critical data center, life science, and office properties throughout the U.S.<\/p>\n<p>\u201cThe greater Denver area is a robust technology market that is well positioned for additional future growth given its highly educated workforce, accessibility, and strong connectivity,\u201d he said.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GI Partners has acquired Synergy Park, an approximately 300,000-square-foot data center and office property in Richardson, Texas.<\/p>\n","protected":false},"author":451,"featured_media":1004134385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21808,21742,21747],"tags":[],"class_list":["post-1004134384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-featured","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GI Partners Increases Data Center Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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