CARLSBAD, CA—Swift Real Estate Partners has acquired a three-property office portfolio in Carlsbad from Brandywine Realty Trust for $30.4 million. The portfolio was approximately 65% leased at the time of sale.
Located at 5963 La Place Court, Carlsbad Airport Plaza is a three-story, 61,578-sqaure-foot office building. Camino West Corporate Park is a two-story, 53,982-square-foot building at 2035 Corte Del Nogal and La Place Court is a two-building, 80,506-square-foot office project located at 5900 and 5950 La Place Court.
CBRE's San Diego officeof Louay Alsadek, Hunter Rowe, Andrew Taylor, Roger Carlson and Larry Cambra represented the seller, Brandywine Realty Trust. Swift represented itself. Carlson and Cambra were retained by Swift to handle leasing for Camino West Corporate Park.
"These three projects were a very attractive investment to complement our portfolio and enhance our Southern California holdings," said Steve Blue, Swift's managing director of the Southern California region.
The CBRE San Diego team of Alsadek, Rowe and Taylor handled 13 institutional office and industrial sale transactions in 2015 totaling approximately $454 million in combined consideration.
Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Washington, D.C., and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 239 properties and 30.7million square feet as of September 30, 2015. Founded in 2010 and headquartered in San Francisco, Swift Real Estate Partners is an independent and vertically integrated real estate investment firm which seeks to generate attractive risk-adjusted returns for its investors. Focusing on Northern California, Swift selectively acquires and repositions office and industrial assets in select West Coast markets.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
