Paul Hastings LLP, a leading global law firm, announced today that the firm represented middle market private equity firm GI Partners acquire a San Diego data center and office building leased to American Internet Services and San Diego Gas & Electric Co.
The purchase was made through DataCore LP, a real estate fund GI Partners manages that was launched with the California State Teachers’ Retirement System (CalPERS). This is the first purchase made by the $1 billion real estate fund, which is focused on invest in technology-focused real estate in the U.S., including data centers, Internet gateways, corporate campuses for technology tenants and life science properties.
Paul Hastings Real Estate partner John Simonis and associates Michael Kovaleski and Antonella Castro represented GI Partners on the transaction.
Real Estate partner Charles Thornton, Tax partner Tom Wisialowski and associate Mark Turner advised GI Partners earlier this year in launching the DataCore LP and also TechCore LLC, a $500 million core real estate fund the private equity firm oversees along with The California Public Employees’ Retirement System (CalPERS) that invests in data centers, technology headquarters, research labs and other high-tech real estate.
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