Diversified Healthcare Trust has paid $82 million, or $921.35/sf, for the Bayside Technology Park, an 89,000-square-foot office and laboratory property in Fremont, Calif. The seller of the property could not be learned immediately. Diversified Healthcare is a Newton, Mass., REIT ...
Rancho Luna Sol The buyer lined up $26.5 million of equity from investors and a $45 million loan from Citibank.
The purchase was financed with a $49 million floating-rate loan from CIBC.
The business park consists of 45275 Northport Court, with 117,610 sf, and 45630 Northport Loop East, with 119,702 sf. The buildings are fully leased through August 2025 to Quanta Computer Inc., a notebook computer manufacturer.
94 percent occupied.
94 percent leased.
Continental Partners secured a $19.75 million bridge loan for the purchase, along with $10.75 million of joint-venture equity.
The property will be rebranded the Parc 88. Trion financed its purchase with a $19.75 million bridge loan arranged by Continental Partners.