MIRABAUD ASSET MANAGEMENT AND EXAN GROUP ANNOUNCE THE COMPLETION OF THE ACQUISITION OF TWO BUILDINGS AT DISTRICT 237, IN SAN JOSE, CA LEASED 100% TO A WELL CREDITED TENANT
Miami, Florida – Miami-based EXAN Group (“EXAN”) has structured the acquisition and retained management of two of the office buildings fully occupied by a well credited tenant at District 237 in San Jose, California. EXAN advised on the acquisition of the asset by a Luxembourg-based institutional commercial real estate partnership structured by Mirabaud Asset Management on behalf of its international clientele. The two buildings were acquired for $95,200,000 million, from California-based KBS.
This Luxembourg-based partnership is working on expanding its established portfolio by acquiring single-tenant office buildings, such as District 237, in key office markets across the U.S. This transaction marks the second acquisition that EXAN has advised Mirabaud Asset Management in the last 12 months.
Juan Jose Zaragoza, Managing Partner and Founder of EXAN declared “This acquisition reflects EXAN’s commitment to deploy overseas capital in the U.S. despite the pandemic, as we continue to demonstrate our ability to execute deals in a timely manner. Our plan is to continue building our portfolio with assets similar to District 237 in the upcoming quarters.”
Umberto Boccato, Head of Investments at Mirabaud Asset Management commented, “We’ve combined Mirabaud Asset Management’s expertise in fund solution delivery with the requirements of Mirabaud’s clients and the ExAn Group’s expertise to complete sophisticated real estate transactions. We have also seen a large amount of interest from investors around the globe looking for this type of transactions”.
According to Ignacio Gil-Casares, partner at EXAN, “the excellent location within one of the top performing submarkets in Silicon Valley, the quality of the building, and the strength of the well credited tenant, made this acquisition a perfect fit for our portfolio and clients needs. There is still a lot of interest from our international capital partners to invest in core, income producing, quality office buildings in the U.S.”