Drawbridge Realty Trust, San Francisco-based real estate investment and development company, announced this week that it had acquired four buildings in San Diego County and Silicon Valley, adding over 227,600 square feet to Drawbridge's portfolio. According to a CoStar report, the company acquired three office buildings in San Diego and one in Santa Clara, CA, for an aggregate $73 million. The acquisitions occurred after Drawbridge received a $150 million capital infusion from Almanac Realty Investors last September.
"We feel that each property is ideally located in its submarket and is well positioned to attract and retain large corporate users," said Mark Whiting, CEO of Drawbridge Realty Trust. "We are looking forward to expanding the firm's portfolio, optimizing potential opportunities through redevelopment, and continuing to invest in quality properties."
Three properties were purchased in San Diego submarkets. Two buildings of the Discovery Corporate Center campus located at 11020 Via Frontera Drive and at 16465 Via Esprillo in Rancho Bernardo and developed by Webcor, were acquired for $53 million. The two properties are leased to Broadcom Corporation and comprise 137,438 square feet. The seller was Menlo Equities, LLC, and no brokers were involved in the off market transaction. Drawbridge also acquired a vacant life sciences building in San Diego County's Sorrento Mesa area, located at 6550 Nancy Ridge Drive. The 24,117 square-foot building was acquired for approximately $2 million and will be redeveloped to attract a corporate user. The fourth property is located 3201 Scott Boulevard in Santa Clara and was purchased for just under $18 million. The building totals 66,106 square feet and is leased to Advantest America. The seller was also Menlo Equities, LLC.
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