14 September 2016
San Diego
Reporter: Shirley Fehr Rodriguez

Winning weekend for RAF Pacifica

RAF Pacifica Group has purchased a $10 million building in San Diego and secured a lease on it in the same weekend.

The class-A corporate headquarters is in the Carlsbad Research Center, and comprises a total of 65,310 square feet in office and warehouse space.

A 12-year lease has been secured for 100 percent of the property, with Ostendo Technologies.

Adam Robinson, principal of RAF Pacifica Group, said: “This acquisition is a testament to our ability to move extremely quickly while making deals that make sense.”

He added: “We are bullish on Carlsbad because of the tremendous growth in the tech and biotech industries.”

Robinson added: “This property’s ideal location, extensive glass, outdoor views, and modern aesthetic make it uniquely positioned to deliver long-term value for a tech company such as Ostendo.”

Aric Starck and Dennis Visser of Cushman & Wakefield represented RAF Pacific Group; Roger Carlson and Adam Molnar of CBRE represented the seller, Blackmore Company. The financing for the transaction was arranged by James Ruiz and Lori Wendel of Keystone Mortgage.

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Standard Chartered boosts CRE team
11 December 2017 | Singapore | Reporter: Stephanie Palmer
Standard Chartered has named Steven Cranwell as global head of commercial real estate for its global banking business
SoftBank and Compass in ‘largest ever’ US real estate tech investment
08 December 2017 | New York | Reporter: Stephanie Palmer
Real estate technology firm Compass has won $450 million in investment from the SoftBank Vision Fund, in what Compass has called the largest ever real estate technology investment deal in US history
Tristan fund makes first foray into Germany
07 December 2017 | Bonn | Reporter: Stephanie Palmer
The CCP 5 long-life fund, a core-plus fund advised by Tristan Capital Partners, has made its first investment in Germany, acquiring an office complex in Bonn for €35 million
JLL develops UK corporate solutions team
07 December 2017 | London | Reporter: Stephanie Palmer
JLL has named Sue Asprey Price as lead director of its corporate solutions business in the UK, with immediate effect
Link Asset Services appointed as real estate fund administrator
06 December 2017 | London | Reporter: Stephanie Palmer
Warehouse REIT, a specialist warehouse investor managed by Tilstone Partners, has selected Link Asset Services for fund administration
Dutch portfolio sold for €200 million
05 December 2017 | Amsterdam | Reporter: Stephanie Palmer
Patrizia Immobilien AG has sold a portfolio of 61 residential properties in the Netherlands, for around €200 million
Allianz tops off bumper 2017 with Broadway acquisition
04 December 2017 | New York | Reporter: Stephanie Palmer
Allianz Real Estate has acquired a 43 percent stake in 1515 Broadway, New York, a class-A building valued at $1.95 billion