IRVINE, CALIF (OCTOBER 7, 2014) – Swift Real Estate Partners, an independent and vertically-integrated real estate investment firm based in San Francisco, has initiated a strategic expansion into Southern California under the leadership of real estate industry veteran Malcolm O’Donnell.
O’Donnell serves as Partner responsible for Swift’s Southern California region. Prior to joining Swift he served as Managing Partner at Akaku Capital, a Southern California real estate investment and management firm. O’Donnell also served as Sr. Managing Director for CarrAmerica’s Southern California region from 2000 to 2007. Prior to that he served as Vice President of Acquisitions for Beacon Properties, and also worked at the development firms of Overton Moore and Majestic Realty. In total, he brings over 30 years of real estate investment experience to Swift. O’Donnell holds a bachelor’s degree from the University of Southern California.
“Malcolm brings a strong depth of experience in both office and industrial assets. He’s led significant portfolio expansion and development for some of the region’s leading firms. As such, we look forward to leveraging his knowledge in Southern California to build a strong portfolio of value add opportunities,” said Douglas D. Abbey, Chairman, Swift Real Estate Partners.
The firm just closed on its first office property in Southern California, 111 Pacifica, located in the City of Irvine. The property is a three-story class A 67,496-square-foot office property. Swift acquired the property from Kilroy Realty and the deal was brokered by Bob Prendergast and Baker Morphy from Jones Lang LaSalle. 111 Pacifica is 74 percent leased with major tenants including Lee & Associates, Hall and Company and RLI Insurance Company.
According to Swift, 111 Pacifica is an institutional-quality office building located within the core of the Irvine Spectrum submarket. It benefits from a significant amenity base with proximity to The Irvine Spectrum, abundant high-quality housing options and new multifamily development, as well as immediate access to three major freeways.
“We believe this asset is an excellent value-add investment opportunity. The property will benefit from the increasing strength and diversity of the South Orange County office market. 111 Pacifica will also gain from our company’s capital improvement plans and hands-on management, as the asset is currently leased at below-market levels,” noted O’Donnell.
He added that the timing is right for Swift to enter Southern California. “Swift is continuing to build on the success of its team, innovative platform and portfolio of high quality assets in Northern California as we look to acquire more office properties in Southern California,” said O’Donnell.
About Swift Real Estate Partners
Headquartered in San Francisco, Swift Real Estate Partners is a vertically integrated real estate investment firm which seeks to generate attractive risk-adjusted returns for its investors. 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.