SANTA CLARITA, CA-Pacific Office Properties Trust Inc. of San Diego has acquired the three-building, 194,000-square-foot Valencia Corporate Center office complex from American Assets Trust Inc., also a San Diego-based REIT, for $31 million. Pacific Office will co-own Valencia Corporate Center through a joint venture with Angelo, Gordon & Co., a privately held investment manager.

Situated on a 13.8-acre campus, the Valencia Corporate Center was developed in 1999 and 2007 with amenities including an on-site gym and dining choices. The three buildings are at 28470, 28480 and 28490Stanford Ave.

Matthew Root, chief investment officer for Pacific Office, said in an announcement regarding the deal that the acquisition "reflects our strategy of purchasing high-quality value-add office buildings with institutional co-investors in markets that offer solid long-term growth fundamentals.” The joint venture partnership will be the latest in a long history of joint ventures formed between Pacific Office’s management group and Angelo Gordon, which together have completed over $1 billion in acquisitions.