GI Partners Announces Acquisition of Corporate Research Center
First San Francisco Bay Area Acquisition for Firm's DataCore Real Estate Fund
Formed with CalSTRS
MENLO PARK, Calif., Feb. 27, 2013
MENLO PARK, Calif., Feb. 27, 2013 /PRNewswire/ --GI Partners, a Bay
Area-based multi-strategy private equity investment manager, announced today
the acquisition of a data center-anchored property in Hayward, California.
The investment was made through DataCore, L.P. ("DataCore"), a fully
discretionary core real estate fund managed by GI Partners.
The California State Teachers' Retirement System ("CalSTRS") created DataCore
in 2012 as a core investment vehicle to invest in technology-advantaged real
estate in the U.S., including data centers, internet gateways, corporate
campuses for technology tenants and life science properties located in primary
MSAs and leased to industry leading tenants. In November 2012, the fund
acquired its first asset, Lightwave Corporate Center in San Diego,
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
"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," said Michael Wong, Vice President of GI Partners.
DataCore represents the continuation of a long-standing relationship between
CalSTRS and GI Partners. In 2012, GI Partners advised CalSTRS on its
acquisition of LCOR, a fully integrated investment, management and development
company focused on large-scale multifamily, commercial, and mixed-use
The California State Teachers' Retirement System, with a portfolio valued at
$161.4 billion as of January 31, 2013, is the largest educator-only pension
fund in the world. CalSTRS administers a hybrid retirement system, consisting
of traditional defined benefit, cash balance and voluntary defined
contribution plans, as well as disability and survivor benefits. For 100
years, CalSTRS has served California's public school educators and their
families, who today number 856,000 from the state's 1,600 school districts,
county offices of education and community college districts.
About GI Partners
Established in 2001, GI Partners is a multi-strategy private equity investment
manager with 46 investment professionals. Since inception, the firm has
managed assets valued at more than $8.5 billion through three discretionary
private equity funds and five separate real estate accounts for recognized
institutional investors, including the largest state and sovereign pension
funds in North America, Europe and the Middle East. GI Partners is active in a
number of key sectors, including IT Infrastructure & Services, Healthcare
Services, Leisure & Retail, and Financial & Real Estate Services. For more
information, please visit www.gipartners.com.
Contact: Chris Tofalli
SOURCE GI Partners
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