POSTED: 11:50 a.m. HST, Aug 31, 2011
Pacific Office Properties Trust has partnered to buy a California office building complex in a move to expand the real estate investment trust's portfolio.
The San Diego-based company bought the property in Santa Clarita Valley, Calif., with New York firm Angelo, Gordon & Co. for $31 million.
Most of Pacific Office's portfolio comprises buildings majority owned by other investors, though the company wholly owns five Honolulu office buildings.
The new addition is a complex of three buildings with a combined 194,000 square feet of office space on a 13.8-acre campus called the Valencia Corporate Center.