An unknown buyer completed the acquisition of Southern Portfolio Located in Sorrento Mesa Submarket of San Diego, California from City Office REIT, Inc..
December 01, 2021
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An unknown buyer entered into an agreement to acquire Southern Portfolio Located in Sorrento Mesa Submarket of San Diego, California from City Office REIT, Inc. (NYSE:CIO) for $180 million on August 19, 2021. In a related transaction, buyer agreed to acquire North Portfolio Located in Sorrento Mesa Submarket of San Diego, California for $390 million on August 19, 2021. The buyer already deposited an amount of $9.045 million for Southern Portfolio. The properties to be sold are unencumbered by debt. The transactions are subject to customary closing conditions. The transaction is expected to close on February 21, 2023. As of November 3, 2021, the company has accelerated the closing to December 2021.
An unknown buyer completed the acquisition of Southern Portfolio Located in Sorrento Mesa Submarket of San Diego, California from City Office REIT, Inc. (NYSE:CIO) on December 2, 2021.
City Office REIT, Inc. is an internally managed real estate company. The Company is focused on acquiring, owning and operating office properties located predominantly in the Sun Belt markets. The Company owns about 24 properties comprised of 58 office buildings with a total of approximately 5.7 million square feet of net rentable area (NRA) in the metropolitan areas of Dallas, Denver, Orlando, Phoenix, Portland, Raleigh, San Diego, Seattle and Tampa. The Company's properties include The Terraces, 2525 McKinnon, Block 23, Pima Center, Canyon Park, Mission City, AmberGlen, Cascade Station, Bloc 83, Greenwood Blvd, Central Fairwinds, Florida Research Park, Denver Tech, Circle Point, Superior Pointe, Carillon Point, Intellicenter, City Center, Park Tower, Papago Tech, The Quad, Camelback Square, 5090 N 40th St, and SanTan among others.
An unknown buyer completed the acquisition of Southern Portfolio Located in Sorrento Mesa Submarket of San Diego, California from City Office REIT, Inc..
CITY OFFICE REIT, INC. 
