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Shidler Sells $209M Office/R&D Portfolio

SAN DIEGO-Broadreach Capital Partners acquires the 18-building portfolio from a partnership of the Shidler Group and Angelo, Gordon & Co. Shidler acquired the properties in late 2004 from REIT Arden Realty Inc.

By Daniel D. Williams | Updated on August 01, 2006

(To read more on the industrial market, click here.)

SAN DIEGO-After a fairly short hold time, San Diego-based the Shidler Group has sold off an 18-building office and R&D portfolio for $209 million. Palo Alto-based Broadreach Capital Partners acquired the more than one million sf from a partnership of Shidler and Angelo, Gordon & Co.

Matt Root, a partner with Shidler, says the timing was right to sell the properties “into a very strong investment market.” Root adds that the sale is part of an effort “to prune our portfolio of select assets as part of our capital recycling program.”

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