GI Partners, on behalf of its Essential Tech + Science (ETS) Fund, recently purchased 12800 Culver Boulevard in the Del Rey neighborhood of Los Angeles. The 185,000-square-foot facility was acquired for a reported $211 million and had previously 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 capabilities with advanced equipment and extensive fiber connectivity to support high capacity digital content distribution. John Sheputis & Rahul Chandiok from GI Partners commented that “the property is a great fit for the ETS fund given the long term cash flow profile, advantaged location & market leading tenant along with significantly above standard digital infrastructure improvements” in their news release announcing the transaction.
L.A Business First reports that since launching in 2021 GI Partners has acquired 20 properties on behalf of ETS Fund including three this year located in Washington D.C., Denver & now LA; CBRE represented AT&T during this transaction process . Industry professionals can gain insight from leaders like CBRE Managing Director Jessica Lall at Connect LA which will be held May 3rd at Hotel Indigo .
