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1/15/14
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Cassidy Turley has been awarded the management contract for a 1 msf, 12-building office portfolio recently acquired by Starwood Capital Group, a private U.S.-based investment firm with a core focus on global real estate. The Starwood Capital Group portfolio, which includes four buildings in Sorrento Mesa and eight in Rancho Bernardo, is 91% leased to a premier roster of credit tenants. It was purchased from LA-based Kilroy Realty.
This is the biggest management assignment awarded to the Cassidy Turley Southwest Property Management Division since its founding in 2010. It brings the total square footage of assets under management to more than 6 msf locally and nearly 35 msf in California and Arizona.
“We are long-term believers in the potential of the San Diego County office market, which is supported by a diverse employment base, especially in the life science, technology and health care industries,” said Mark Deason, Senior Vice President with Starwood Capital Group.
The portfolio gives Starwood Capital Group a strong foothold in two of San Diego County’s most desirable submarkets.
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