November 28, 2016
San Diego-based Westcore Properties secured up to $337.5-million in additional growth capital from a fund managed by NY-based Almanac Realty Investors LLC. The new funding commitment brings Almanac’s total investment in the Westcore platform to $535.2 million.
The fresh commitment of capital will be used to fund new value-add industrial and office investments, and is expected to help fuel continued growth of the organization. Since obtaining the additional commitment, Westcore has closed or placed under contract 2.4 million square feet of properties, valued at $172 million.
Almanac’s Andrew Silberstein says, “Westcore is a strong, vertically-integrated company of seasoned real estate professionals, with a 30-year track record of providing exceptional returns to its investors.”
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