MENLO PARK, CA, February 27, 2013 – GI Partners, a Bay Area-based multi-strategy private equity investment manager, announced today the acquisition of a data center-anchored property in Hayward, California. The investment was made through DataCore, L.P. (“DataCore”), a fully discretionary core real estate fund managed by GI Partners.
The California State Teachers’ Retirement System (“CalSTRS”) created DataCore in 2012 as a core investment vehicle to invest in technology-advantaged real estate in the U.S., including data centers, internet gateways, corporate campuses for technology tenants and life science properties located in primary MSAs and leased to industry leading tenants. In November 2012, the fund acquired its first asset, Lightwave Corporate Center in San Diego, California.
More recently, DataCore acquired a three-building, 299,387-square-foot property located at 26460, 26462 and 26464 Corporate Avenue in San Francisco’s East Bay. The property is leased on a long-term basis to a tech subsidiary of an investment grade Fortune 500 company, Ultra Clean Holdings, Inc. and Moximed, Inc.
“Corporate Research Center is a state-of-the-art Bay Area asset with an excellent tenant roster that continues to demonstrate its commitment to the property by building out extensive data center and other technology-related improvements,” said Michael Wong, Vice President of GI Partners.
DataCore represents the continuation of a long-standing relationship between CalSTRS and GI Partners. In 2012, GI Partners advised CalSTRS on its acquisition of LCOR, a fully integrated investment, management and development company focused on large-scale multifamily, commercial, and mixed-use properties.
The California State Teachers’ Retirement System, with a portfolio valued at $161.4 billion as of January 31, 2013, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans, as well as disability and survivor benefits. For 100 years, CalSTRS has served California’s public school educators and their families, who today number 856,000 from the state’s 1,600 school districts, county offices of education and community college districts.
About GI Partners
Established in 2001, GI Partners is a multi-strategy private equity investment manager with 46 investment professionals. Since inception, the firm has managed assets valued at more than $8.5 billion through three discretionary private equity funds and five separate real estate accounts for recognized institutional investors, including the largest state and sovereign pension funds in North America, Europe and the Middle East. GI Partners is active in a number of key sectors, including IT Infrastructure & Services, Healthcare Services, Leisure & Retail, and Financial & Real Estate Services. For more information, please visit www.gipartners.com.