Partners Group of Baar-Zug, Switzerland, acting on behalf of its clients and Accesso Partners, LLC of Hallandale Beach, FL jointly announced today they have formed a joint venture to own and operate eight office towers covering 3.4 million square feet in major U.S. cities.
The joint venture makes Partners Group the majority owner of the portfolio valued at $750
million. Accesso maintains an ownership interest and will continue to provide asset management and property management services.
“We are extremely pleased to expand and deepen our partnership with Partners Group, one of the largest and most respected global private markets investors and managers,” says Ariel Bentata, Managing Partner-investments and a co-founder of Accesso Partners. “Going forward, Accesso and Partners Group will work closely together to upgrade and enhance amenities in order to realize significant additional upside from these assets.”
“The acquisition showcases our strategy of targeting high-quality office assets that enjoy an attractive combination of income and growth from further lease-up and value add opportunities. Located in highly amenitized submarkets with good access to housing, education and multiple modes of transport, the portfolio is well positioned with employers that view the workplace an essential tool to attract and retain talent,” says Fabian Nuenschwander, Managing Director and Co-Head, Private Real Estate Americas at Partners Group.
Brian Rosen, Accesso’s Chief Investment Officer, says the transaction provides an attractive liquidity solution for Accesso’s individual and institutional investors and enables several of them still participate in the future growth of the portfolio’s eight properties.”
West Point Advisors of New York and Eaton Partners of Norwalk, Conn. advised Accesso Partners on the joint venture.
About Accesso Partners. LLC
Accesso Partners LLC is a full-service, vertically integrated commercial real estate investment manager, owner and operators that aims to provide superior returns to its U.S. and international individual and institutional investors. Accesso’s focus is on acquiring office properties in Class A locations in the largest, fastest growing metropolitan cities and premier suburban submarkets throughout the U.S. Accesso’s property portfolio includes 39 office properties covering 15 million square feet. Its affiliate, Accesso Services LLC, provides proactive, cost-efficient property management services with an owner’s mindset. Accesso Partners LLC is headquartered in Hallandale Beach, FL. and has offices in Atlanta, Chicago, Dallas, Houston and Minneapolis.
About Partners Group
Partners Group is a global private markets investment management firm with over USD 78 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in Denver, Houston, New York City, Sao Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employees over 1000 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees.