TechCore Real Estate Fund Continues its Acquisitions Program with the Vienna, VA Property
MENLO PARK, Calif., Dec. 18, 2012 - GI Partners, a leading middle market private equity investment manager, announced today the acquisition of Liberty Park at Tysons, a 225,038 square foot mission critical data center and office property located in Vienna, VA. The acquisition was made through TechCore, LLC ("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 Corporation, a global leader in 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 and leased to industry leading tenants.