GI Partners Announces Acquisition of a Class A Technology Headquarters in San Jose

MENLO PARK, Calif., Sept. 12, 2012 /PRNewswire/ -- GI Partners, a leading middle market private equity real estate firm, announced today the acquisition of a Class A technology headquarters office building in San Jose.  The acquisition is the first from TechCore, LLC ("TechCore"), a $500 million discretionary core real estate fund launched earlier this year and managed by GI Partners on behalf of California Public Employees' Retirement System ("CalPERS").  GI Partners and CalPERS formed TechCore 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. 

TechCore acquired the eight story, 198,033 square foot office building located at 1600 Technology Drive near the San Jose International Airport.  The building is the global headquarters of Atmel Corporation, a worldwide leader in the designing and manufacturing of microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components.

"TechCore is well positioned to invest in desirable 'core' technology properties and the acquisition of 1600 Technology Drive is representative of our strategy," said Rick Magnuson, Executive Managing Director of GI Partners.  "This premier property is well situated in one of the country's leading technology centers and features numerous distinctive technology attributes including a raised floor environment.  We continue to actively evaluate numerous attractive investment opportunities around the country on behalf of our technology-advantaged real estate program."

About GI Partners

Established in 2001 and with 46 investment professionals, GI Partners is a leading private investment firm with investments in North America and Western Europe. The firm is active in a number of key sectors, including IT and business services, specialist healthcare, financial services, leisure, retail, logistics and media. Since inception, the firm has secured $8.4 billion of equity capital commitments from recognized institutional private equity and real estate investors in the U.S., Europe, Asia and the Middle East. For more information, please visit www.gipartners.com.

Contact:
Chris Tofalli
(914) 834-4334
[email protected]

SOURCE GI Partners