Regions West | San Diego
June 2, 2008
Thomas Properties Group Inc. has entered into an agreement with UBS Wealth Management/North American Property Fund Limited, in which UBS will allocate $250 million to a joint venture program with Thomas Properties to acquire class A office properties in U.S. markets. Thomas Properties will contribute 15 percent of the equity required for each acquisition and receive customary acquisition, asset management and incentive-based fees for programs of this type. The company also will provide property management and leasing services for properties acquired in markets in which the company has an existing presence.
Markets initially targeted for investment include, among others Los Angeles, Orange County, San Diego and San Francisco, California, Austin and Houston, Texas, Washington DC/Northern Virginia, Seattle, Denver and Phoenix.
Thomas Properties Group Inc. has entered into an agreement with UBS Wealth Management/North American Property Fund Limited, in which UBS will allocate $250 million to a joint venture program with Thomas Properties to acquire class A office properties in U.S. markets. Thomas Properties will contribute 15 percent of the equity required for each acquisition and receive customary acquisition, asset management and incentive-based fees for programs of this type. The company also will provide property management and leasing services for properties acquired in markets in which the company has an existing presence.
Markets initially targeted for investment include, among others Los Angeles, Orange County, San Diego and San Francisco, California, Austin and Houston, Texas, Washington DC/Northern Virginia, Seattle, Denver and Phoenix.
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