Lone Star Fund Acquires Tech Campus in Santa Clara
Santa Clara, CA – A London-based investment group, Lone Star Fund, has acquired a tech campus in Santa Clara for nearly $200 million. This decision is attributed to “strong tailwinds” within the Silicon Valley economy.
The fund, via an affiliate, purchased the multi-building hub on Mission College Boulevard, known as Mission Park, covering 12 parcels and encompassing a 45.3-acre site. The transaction documents, filed on August 31 in Santa Clara County, indicated the purchase price was $195 million.
Jerome Foulon, the global head of commercial real estate for Lone Star, expressed optimism: “We see significant opportunity in this portfolio given the strong tailwinds across the business landscape right now in Silicon Valley. We have a high level of conviction in the resurgence of the Bay Area.”
In addition to this acquisition, Lone Star Fund has secured a $552 million loan for a broader portfolio that includes properties dedicated to research and development. The lender for this loan was an affiliate of Invesco Real Estate, a prominent global investment firm.
Lone Star Fund is not alone in capitalizing on the Bay Area’s real estate opportunities. Other investors are also making significant moves, including a $330.8 million purchase of an office building in Sunnyvale leased to Hewlett Packard Enterprise on a long-term basis.
For further details on Lone Star Fund, visit their website.
