Search
 

Pension Fund Sells $80M Office Portfolio

SAN DIEGO-In the largest office transaction of the year in the county, DRA Advisors Inc. unloads a five-building office portfolio totaling 477,756 sf. The deal is valued at as much as $80 million.

By Randyl J. Drummer | Updated on June 18, 2002

SAN DIEGO-An institutional investor has sold a five-building office portfolio. The transaction is valued at $80 million, the largest such deal so far this year in the county.

DRA Advisors Inc., a general partner with Landmark Asset Management Group, bought the portfolio from Clarion Partners, a private pension fund advisor. The deal closed earlier this month.

Rick Putnam and Jeff Cole, principals with Trammell Crow Co., along with Phil Monroe of Burnham Real Estate Services in San Diego, represented New York-based Clarion and its client in the transaction. The asking price was $80 million, according to Trammell Crow.

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

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.