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When Break-Up Strategies Make Sense

The groups who succeed are those with the strongest capital relationships who can look at assets from a slightly different perspective than the competition, JLL's Sach Kirpalani tells GlobeSt.com.

By Carrie Rossenfeld | Updated on February 01, 2018

Sach Kirpalani Kirpalani: “If the portfolio doesn’t include a crown jewel, a break-up play may not give the portfolio buyer the lift they would be seeking by executing the strategy.”

SAN DIEGO—The groups who succeed with break-up property-sales strategies are those with the strongest capital relationships who can look at assets from a slightly different perspective than the competition, JLL VP Sach Kirpalani tells GlobeSt.com. Kirpalani, along with JLL capital-markets experts Bob Prendergast and Lynn LaChapelle, recently represented seller Hill Properties in the sale of a two-building light-industrial portfolio in Scripps Ranch here in an off-market transaction for an undisclosed amount to Carroll Canyon LLC.

9855 Carroll Canyon Rd. is a 42,947-square-foot building leased to Teledyne with nine years remaining on the lease term, and 9925 Carroll Canyon Rd. is a 20,681-square-foot building leased to Gamma Scientific, who recently extended its lease on the property for five years. As GlobeSt.com had reported in April 2017, Hill had bought the buildings as part of a nine-building portfolio at the time.

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