Two groups of real estate investors have bought four office hubs in San Mateo County in recent weeks, paying well over $400 million for the properties, a survey of public records shows.
All told, investors paid a combined $437.8 million for the office complexes, which are located in Brisbane, San Carlos and South San Francisco, documents that were filed in September with the San Mateo County Recorder’s Office show.
An alliance of New York City-based private investment firm Angelo Gordon and Dallas-based real estate firm Lincoln Property Co. paid $49.8 million for a newly constructed office building at 150 N. Hill Drive in Brisbane, county files show.The deals show that real estate investors still hunger for commercial properties in sites such as Silicon Valley and San Mateo County, even in the face of the economic uncertainties that the coronavirus has spawned.
Pasadena-based Alexandria Real Estate had previously told Wall Street analysts that it intended to trim its office holdings in the Bay Area.
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