67.1 F
Los Angeles
Wednesday, Aug 17, 2022
-Advertisement-

Thomas Properties Partners with UBS

Thomas Properties Group Inc. said Monday that it has partnered with UBS Wealth Management to acquire $250 million worth of Class A office properties in select markets.


The Los Angeles real estate company will provide property management and leasing services to the partnership and 15 percent of the capital on most investments. The North America Property Fund Ltd. division of the Swiss bank’s U.S. wealth management operations will be the lead equity investor.


No specifics were given about the acquisitions, aside from that they will be of “stabilized” properties. Markets will include Los Angeles, Orange County, San Diego, San Francisco, Austin, Houston, Washington DC/Northern Virginia, Seattle, Denver and Phoenix.


Shares in Thomas Properties were down 2.7 percent to $10.08 in early trading Monday.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-