MENLO PARK, Calif., June 5, 2014 /PRNewswire/ -- GI Partners announced the acquisition of 850 Winter Street in the Reservoir Woods office park, located in Waltham, Massachusetts. The acquisition was made through TechCore, LLC ("TechCore"), which is a $1 billion discretionary core real estate fund managed by GI Partners on behalf of the California Public Employees' Retirement System ("CalPERS").
850 Winter Street is a three-story building comprised of 180,039 square feet of life science and office space with a subterranean parking garage. Designed by Elkus Manfredi Architects, the property is certified LEED Gold by the U.S. Green Building Council and was developed in 2008.
Michael Wong, Director of GI Partners, said, "850 Winter is a premier building in one of Greater Boston's most prominent life science and office markets. It has a very high quality tenant roster, and its location and amenities make it an attractive choice for companies seeking to be near Route 128."
GI Partners and CalPERS formed TechCore in early 2012 to acquire technology-advantaged properties, including data centers, internet gateways, corporate campuses for technology tenants, and life science properties located in core MSAs and leased to industry leading tenants. Since inception, TechCore has acquired over 2.3 million square feet of mission critical data center, life science, and office properties throughout the United States.
About GI Partners
Founded in 2001, GI Partners is a multi-strategy asset manager based in Menlo Park, California. The firm currently manages over $10 billion in capital commitments through private equity and real estate separate account strategies for recognized institutional investors, including some of the largest state and sovereign pension funds in North America, Europe, Australia, Asia, and the Middle East. GI Partners' private equity team is active in a number of key sectors, including IT Infrastructure & Services, Healthcare Services, Retail & Leisure, and Financial & Real Estate Services. GI Partners' real estate efforts span a number of property types and investment strategies, including industrial, apartments, life sciences and technology-oriented data centers and corporate campuses. For more information on GI Partners, please visit www.gipartners.com.
Caroline Schimmelbusch, Investor Relations
Chris Tofalli, Public Relations
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