May 15 - June 4, 2024

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Citing its central location between Los Angeles and Orange counties, Newport Beach-based Cress Capital has acquired a portfolio of five Class-A office buildings totaling nearly 462K SF in Cerritos for $89.5M Read more at: https://www.bisnow.com/orange-county/news/office/orange-county-based-cress-capital-looks-to-capitalize-on-underappreciated-cerritos-with-89m-office-portfolio-acquisition-91718?utm_source=CopyShare&utm_medium=Browser

With the $89.5 million purchase of a five-building Class A office portfolio in Cerritos, the Newport Beach-based company has made its fourth significant acquisition in the past 18 months.

Cress Capital snaps up five-building package at Cerritos Towne Centre

Cress Capital, a Newport Beach-based private equity firm, has purchased a portfolio of five office buildings totaling nearly 462,000 square feet at Cerritos Towne Centre for $89.5 million from Principal Real Estate Investors, a Des Moines, Iowa-based limited liability company.

A commercial real estate investment company that’s acquired nearly $100 million in Colorado assets in the last 12 months now owns Orchard Pointe, a prominent Class A office building in the Denver Tech Center.

Cress Capital has acquired Union Tower, a 210,000-square-foot office building in Lakewood, Colo., a suburb of Denver, for $25.2 million. TA Realty sold the property in an off-market deal.

Outside institutional investors have poured hundreds of millions of dollars into commercial properties in the Boulder Valley and Northern Colorado because they see a market with prices that leave room for profits, either as a landlord or through a quick flip. In the past 18 months, Goldman Sachs, Blackstone Group, Balfour Capital Management, Cress Capital and Crescent Real Estate, all deep-pocket investment groups based elsewhere, have acquired major portfolios in the region.