SAN DIEGO – January 6, 2016 – CBRE announced that Swift Real Estate Partners acquired a three-project office portfolio in Carlsbad, California from Brandywine Realty Trust for $30,400,000. The portfolio was approximately 65 percent leased at the time of sale.
Located at 5963 La Place Court, Carlsbad Airport Plaza is a three-story, 61,578-sqaure-foot office building. Camino West Corporate Park is a two-story, 53,982-square-foot building at 2035 Corte Del Nogal and La Place Court is a two-building, 80,506-square-foot office project located at 5900 and 5950 La Place Court.
Louay Alsadek, Hunter Rowe, Andrew Taylor, Roger Carlson and Larry Cambra represented the seller, Brandywine Realty Trust. Swift represented itself. Carlson and Cambra were retained by Swift to handle leasing for Camino West Corporate Park.
“These three projects were a very attractive investment to complement our portfolio and enhance our Southern California holdings,” said Steve Blue, Swift Managing Director of the Southern California region.
The CBRE San Diego team of Alsadek, Rowe and Taylor handled 13 institutional office and industrial sale transactions in 2015 totaling approximately $454 million in combined consideration.
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About Brandywine Realty Trust
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Washington, D.C., and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 239 properties and 30.7million square feet as of September 30, 2015. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together. Our deep commitment to our communities was recognized by NAIOP naming Brandywine the 2014 Developer of the Year – the highest honor in the commercial real estate industry. For more information, please visit www.brandywinerealty.com.
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About Swift Real Estate Partners
Founded in 2010 and headquartered in San Francisco, Swift Real Estate Partners is an independent and vertically integrated real estate investment firm which seeks to generate attractive risk-adjusted returns for its investors. Focusing on Northern California, Swift selectively acquires and repositions office and industrial assets in select West Coast markets. Swift identifies unique opportunities and executes well-defined business plans while providing real-time, day-to-day oversight for each investment. Swift’s professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, and construction management.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
