Goleta Business Park Portfolio Recapitalized for Record Sum

Colliers arranged the recapitalization sale of the Tech Park @ Goleta Portfolio, a Class A, 17-building technology campus comprised of five business parks spanning 733,497 square feet in the Central Coast city of Goleta. Participants in the recapitalization included seller Majestic Asset Management, Praelium, Blackbird Investment Group and H.I.G. Capital. Although the sale price was not disclosed, the Pacific Coast Business Times reported it as $235 million, a record for the region.

“Goleta’s combination of entrenched technology and aerospace tenants, limited new supply and strong institutional ownership continues to support long-term investor conviction in the market,” said Sean Fulp, vice chair at Colliers and lead broker on the transaction.

Alongside Fulp, the Colliers team of vice chair Michael Kendall, EVPs Mark Schuessler and Gian Bruno, SVP Kenny Patricia, and associate VP Blake Hammerstein partnered with local market experts Francois DeJohn and Caitlin Hensel, partners at Hayes Commercial Group, in exclusively marketing the portfolio and facilitating the deal. CBRE EVPs Brad Zampa and Mike Walker provided debt and structured finance advisory.