Partners Group, Spear Street Go on Office Shopping Spree

The joint venture partners will acquire roughly 2.2 million square feet of office space in select U.S. markets.
The Campus at Legacy, Plano, Texas

The Campus at Legacy, Plano, Texas

San Francisco—Funds managed by Partners Group AG or its affiliates joined forces with affiliates of Spear Street Capital LLC to acquire the Whetstone Portfolio, which comprises roughly 2.2 million square feet of office space across five states. The joint venture partners will acquire a number of premier office assets located in suburban markets in Dallas, Chicago, Washington, D.C., Austin and Boston. Financial details of the acquisition have not been disclosed.

The Whetstone Portfolio includes the following properties:

  • The Campus at Legacy: A 726,700-square-foot, Class A office campus located in Plano, Texas;
  • The Atrium Corporate Center: A 467,000-square foot, Class A office building located in Rolling Meadows, Ill.;
  • The Trinity Centre: A four-building, Class A office park totaling 488,200 square feet and located in Centreville, Va.;
  • Research Plaza I & II: A 272,000-square-foot, Class A asset is located in Austin’s Northwest submarket; and
  • Riverworks Innovation Center: A 201,000-square-foot, Class A office campus located in Watertown, Mass.

Spear Street Capital will continue to manage the portfolio on behalf of the joint venture. The deal was led by Partners Group’s real estate secondaries investment team. Accord Capital Partners LLC served as exclusive financial advisor.

Image courtesy of KDC