Deal of the Week

 

March 25, 2014

July 22, 2014


Wateridge campus sold

Adam Edwards, of Eastdil Secured, represented the seller in the Deal of the Week.

The buyer represented itself.

The deal was the acquisition by EP Wateridge LLC, a partnership of the Chicago-based Equity Group Investments and Matt Root's San Diego-based Parallel Capital Partners, of the three-building Wateridge Plaza office complex in Sorrento Mesa at 10201, 10221 and 10241 Wateridge Circle, San Diego, for $72.5 million.

The property consists of three buildings of five and six stories totaling 278,787 square feet, and a parking structure. The 8-acre property can also accommodate an approximately 168,000 additional square feet of office space.

The new ownership financed the acquisition with a loan of $52 million from H2 Financial Funding.

The seller was Wateridge Office Plaza LLC, a partnership controlled by Beacon Capital and C-III Realty, which acquired the property in 2011 for $50.5 million.


 

March 25, 2014

July 22, 2014