SAN DIEGO and SAN FRANCISCO, Dec. 4, 2019 /PRNewswire/ -- Swift Real Estate Partners ("Swift"), a commercial real estate investment firm, announces its successful acquisition of CPTwo, located on High Bluff Drive in San Diego, California. This is Swift's second value-add acquisition for its recently raised $500 million Fund III.
CPTwo is comprised of two, four-story office buildings totaling approximately 119,000 square feet in the prime submarket of San Diego: Del Mar Heights. Historically, Del Mar Heights has been a top-performing submarket in the San Diego region, with leading rents of 33% above market averages. Swift's upcoming planned capital improvements will draw new tenants searching for experiential office space and allow CPTwo to compete with neighboring Class A assets along the best commercial corridor in Del Mar.
Swift will work to establish a strong consumer-focused brand and client experience that will come to life through hospitality oriented amenities, which include redesigned outdoor meeting spaces and indoor lobbies, new local coffee purveyor with food and beverage offerings and an activated fitness area with the latest wellness equipment and programming that will support the tenants' Southern California lifestyle.
The seller was represented by Eastdil Secured.
For more about this transaction or Swift Real Estate Partners, please contact firstname.lastname@example.org.
About Swift Real Estate Partners
Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco and has regional offices in Orange County, Portland, the San Francisco East Bay and Silicon Valley. Swift is a vertically integrated real estate investment firm that seeks to generate superior risk-adjusted returns for its partners. Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than 10 million square feet. Swift's first institutional fund was raised in 2014 and is fully deployed. Swift's Fund II was raised in 2016 and is fully committed. Swift is presently investing on behalf of Fund III. Swift's investor base includes U.S. pension funds, endowments and foundations, as well as foreign investors and investment advisors. Swift's professionals bring experience encompassing all aspects of real estate investment management, including acquisition, financing, leasing, disposition, construction oversight and property management.
SOURCE Swift Real Estate Partners