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7/18/19
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A joint venture between Harvest Properties and AXA Investment Managers – Real Assets has acquired One80 Grand, a 279k sf, Class A office tower in Oakland. The price was not disclosed.
Photo: Vantagepointe Photo |
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The acquisition represents a recapitalization of the 15-story LEED Platinum building, which was originally acquired by Harvest and KKR in 2017. Located at the edge of Lake Merritt in Downtown Oakland’s ‘Uptown’ neighborhood, Harvest and AXA IM – Real Assets will continue to elevate the stature of the building in the market and meet the needs of its diversified tenant base. Identified near term asset management initiatives include a complete elevator system modernization, continuation of common area upgrades and the addition of a creative workplace environment on the 7th floor.
Locally-based developer Harvest made the decision to continue its part ownership of One80 Grand, in a new joint venture, because of the long-term growth prospects for downtown Oakland and The Uptown District in particular, according to Harvest partner Kathryn Collins. AXA IM – Real Assets, a leading real estate portfolio and asset manager, made the purchase on behalf of clients.
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