Morgan Stanley Real Estate Investing (MSREI) announced today the acquisition of the Parsons Campus, a 22.7 acre office complex located in Pasadena, Calif., about 10 miles northeast of downtown Los Angeles. The campus includes three office buildings that offer approximately 950,000 square feet as well as two parking structures and surface parking. The acquisition was made in partnership with Lincoln Property Company.
“The Parsons Campus represents a strategic complement to our existing portfolio because of its excellent location, strong tenants and potential for future development,” said John Klopp, Co-Chief Executive Officer and Co-Chief Investment Officer of MSREI. “We are thrilled to have another opportunity to work with our partners Lincoln Property Company and expect both this investment and the current tenants to benefit from Lincoln’s property management expertise.”
“We look forward to joining the Pasadena community at such a prominent and visible location,” said David Binswanger, Executive Vice President, Lincoln Property Company. “The Parsons Campus fits well with Pasadena’s reputation as the home for some of the very best engineering, healthcare, technology, defense and financial services firms.”
About Morgan Stanley Real Estate Investing
Morgan Stanley Real Estate Investing (MSREI) is the global real estate investment arm of Morgan Stanley. Established in the early 1990s, MSREI has been one of the most active real estate investors for two decades, acquiring over $175 billion of assets in 36 countries. MSREI leverages the expertise, relationships and franchise of Morgan Stanley with dedicated real estate investing professionals located in 15 offices around the world providing acquisition, finance and investment services.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
About Lincoln Property Company
Lincoln Property Company (Lincoln) is an international full service real estate company offering real estate development, design/construction management, and property/facilities/asset management services. Founded in 1965 in Dallas, Lincoln currently has approximately 4,000 employees and maintains a presence in more than 200 cities in the United States and 10 countries throughout Europe. Lincoln has developed over 103 million square feet of office, industrial and retail facilities and currently manages over 183 million square feet of commercial space. Lincoln commercial developments have been widely recognized as landmarks in their communities for their design, quality and superior locations. In addition, Lincoln is consistently listed as one of the largest apartment developers in the United States, having developed over 181,000 multi-family residential units and currently managing over 110,000 units.
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