The unnamed fund reportedly paid nearly $130 million for the development, which was completed 18 months ago on a speculative basis and now is nearly 100% occupied.

The Trammell Crow Co., which has worked with J.P. Morgan on several other projects, advised the buyer in the transaction. CB Richard Ellis represented the builder-owner team, privately held PacTen Partners and Morgan Stanley Real Estate Funds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Los Angeles
Office