Broadreach Sells BT Infonet Headquarters for $51.2 Million

May 31, 2011 - PRLog -- Los Angeles , CA – Broadreach Capital Partners has sold the  157,000 square-foot office building in El Segundo, which serves as the North American corporate headquarters for BT Infonet, to GLL Properties, Inc. for $51.2 million, announced Managing Director David Simon.

Broadreach acquired the three-story Class A building located at 2160 East Grand Avenue along with the neighboring 122,000 square-foot four-story Grand Avenue Corporate Center from British Telecom in separate transactions in 2005 and 2006 when the telecom giant was divesting itself of non-core assets and monetizing its corporate real estate holdings.  

“We were able to provide BT with a viable solution to some of its complex corporate real estate issues during their period of reorganization and it proved to be a profitable investment for Broadreach,” said Simon.

As part of the sale leaseback transaction struck in 2006, BT Infonet, the voice and data networking services a subsidiary of British Telecom, will lease the entire building through 2021.

The BT Infonet headquarters building was one of the first of a new generation of high technology buildings when it was built in 2000 featuring redundant back-up systems; raised access flooring to contain more than 200 miles of cable; energy efficient underfloor HVAC air distribution;  and “plug and play” modular power and telephone systems.

Broadreach was represented in the transaction by Eastdill Secured.  GLL Properties of Walnut Creek, CA, the US subsidiary of GLL Partners, a Munich, Germany-based real estate funds management group represented itself in the transaction.

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About Broadreach Capital Partners

Broadreach Capital Partners (http://www.broadreachcp.com), a real estate investment firm with locations in Palo Alto, Los Angeles and San Francisco, CA, St. Louis, MO and Edwards, CO, invests in a variety of commercial, mixed-use and land properties in the western United States and lodging-related properties on a broader geographic basis. The company focuses on opportunities where it can create significant value by capitalizing on the team’s core competencies; including opportunistic acquisitions, operational excellence, strategic asset repositioning, and select development activity. Broadreach manages over $1 billion of equity through its series of discretionary real estate funds. In 2006, the company added a team from Maritz, Wolff & Co. to pursue lodging related investments throughout the United States and abroad.