Texas investor grabs six websites in East Bay tech, biotech hotbed – East Bay Occasions

ALAMEDA — A Texas-based investment firm has grabbed several properties in Alameda, in a deal that suggests buyers hunger for Bay Area properties that are in tech or biotech hotbeds.

Invesco Real Estate, acting through several affiliates, has bought six parcels in the East Bay city, documents filed on May 26 with the Alameda County Recorder’s Office show.

Dallas-based Invesco Real Estate paid $102.1 million for the properties, according to the public records.

The transaction marks one of the largest real estate deals in the East Bay, measured by the value of the deal, so far in 2021.

Oakland-based srmErnst Development Partners, a veteran real estate firm, was the seller of the half-dozen parcels, the county documents show.

To finance the purchase, Invesco landed up to $99.2 million in financing from PGIM Real Estate Finance, which is a unit of Prudential Financial, a financial services and insurance behemoth.

The parcels involved have addresses, all in Alameda, of 1410 and 1430 Harbor Bay Parkway; and 1955, 2065, 2095, and 2115 North Loop Road, according to the county documents.

The properties that Invesco purchased are a mix of office and research buildings and parcels that could be developed. The buildings are on North Loop Road while the land sites are on Harbor Bay Parkway.

Invesco Real Estate is a major player in property investments and in 2018 had $64.1 billion in real estate assets under management.

Numerous tech and biotech companies are located in Alameda and other parts of the East Bay, making the area an outpost for advanced technology firms.

In the immediate vicinity of the properties that have just been bought are firms such as Exelixis, a biotech company; Abbott Diabetes Care; and Penumbra, a medical technology manufacturer.

In addition, food and beverage producers such as Peet’s Coffee, Semifreddi’s, and Donsuemor Madeleines are nearby.

Eat Just, which makes plant-based alternatives to eggs and other dairy products, is considering a relocation of its headquarters to Alameda by exiting San Francisco.

 

 

 

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