SAN FRANCISCO, Jan. 5, 2016 /PRNewswire/ -- GI Partners announced that it has completed the acquisition of 11525 Main Street located in Broomfield, Colorado. The acquisition was made through TechCore, LLC ("TechCore"), an approximately $1 billion discretionary core real estate fund managed by GI Partners on behalf of the California Public Employees' Retirement System ("CalPERS").
11525 Main Street is a mission-critical data center facility containing 92,800 square feet. The property is fully occupied on a long-term basis by TIAA-CREF.
"We are very pleased to own the property and strengthen GI's long-term relationship with TIAA-CREF," commented Michael Wong, Director of GI Partners. "The facility's high-quality data center improvements and critical nature make it a compelling addition to the TechCore portfolio. The greater Denver area is a robust technology market that is well positioned for additional future growth given its highly educated workforce, accessibility, and strong connectivity. TechCore is excited to complete its first acquisition in the market."
TechCore was formed in early 2012 to acquire technology-advantaged properties, including data centers, internet gateways, corporate campuses for technology tenants, and life science properties located in core MSAs and leased to industry leading tenants. Since inception, TechCore has acquired over 2.9 million square feet of mission-critical data center, life science, and office properties throughout the United States.
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $834 billion in assets under management (as of 9/30/2015) and is a leading provider of retirement services in the academic, research, medical, and cultural fields.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Its pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in its health program, making it the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $288 billion (as of 9/30/15).
About GI Partners
Founded in 2001, GI Partners is a leading private investment firm based in San Francisco, California. The firm currently manages over $12 billion in capital commitments through private equity and real estate strategies for recognized institutional investors, including some of the largest state and sovereign pension funds in North America, Europe, Australia, Asia, and the Middle East. GI Partners' real estate team invests across a number of property types and investment strategies, including industrial, apartments, life sciences, and technology-oriented data centers and corporate campuses. For more information on GI Partners, please visit www.gipartners.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations
SOURCE GI Partners