TMCNet:  GI Partners Purchases Liberty Park at Tysons [Manufacturing Close - Up]

[December 29, 2012]

GI Partners Purchases Liberty Park at Tysons [Manufacturing Close - Up]

(Manufacturing Close - Up Via Acquire Media NewsEdge) GI Partners, a middle market private equity investment manager, announced the acquisition of Liberty Park at Tysons, a 225,038 square foot mission critical data center and office property located in Vienna, Virginia.


According to a release, the acquisition was made through TechCore, a $500 million discretionary core real estate fund launched earlier this year and managed by GI Partners on behalf of the California Public Employees' Retirement System ("CalPERS").

The property is principally occupied by the GSA on a long term lease in support of a mission critical application. Rick Magnuson, Executive Managing Director of GI Partners, said, "This was an excellent opportunity for us to acquire a state-of-the-art data center facility that recently underwent a major renovation to support the long term needs of a world class tenant." TechCore also recently acquired a Class "A" technology headquarters office building located at 1600 Technology Drive in San Jose, CA. The eight story, 198,033 square foot office building is the global headquarters for Atmel Corp., a global company focusing on the semiconductor industry.

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.

More information: www.gipartners.com ((Comments on this story may be sent to newsdesk@closeupmedia.com)) (c) 2012 ProQuest Information and Learning Company; All Rights Reserved.

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