GI Partners, on behalf of its Essential Tech + Science (ETS) Fund, has purchased 12800 Culver Boulevard, a 185,000-square-foot facility in the Del Rey neighborhood of Los Angeles. The firm paid a reported $211 million for the building that served as a broadcast center for AT&T and its subsidiary DirecTV.
The 13-acre property is surrounded by several giant satellite dishes and features large-scale data storage and high-capacity digital content distribution capabilities with advanced equipment and extensive fiber connectivity.
“The property is a great fit for the ETS fund, given the long-term cash flow profile, advantaged location and market-leading tenant and significantly above-standard digital infrastructure improvements,” said GI Partners’ John Sheputis and Rahul Chandiok in a news release.
L.A. Business First reports GI Partners has acquired 20 properties on behalf of the ETS Fund since its 2021 launch, including three this year in Washington D.C., Denver and now LA. CBRE represented AT&T in the transaction.
Image courtesy of GI Partners
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