HIGHRIDGE PARTNERS HAS ACQUIRED A $31 MILLION OFFICE TOWER

SANTA ANA, CALIF. — In an all-cash transaction, Highridge Partners has purchased the 246,819-square-foot 3 MacArthur office tower in Santa Ana for $31 million. Marking the debut of the firm’s $500 million investment program targeting Class A California office properties, Highridge Partners acquired the 11-story property from Tishman Speyer Office Fund, which had purchased the building in 2007. Located in the airport submarket of Orange County, 3 MacArthur is currently 78 percent leased. The new owner has engaged RiverRock and CB Richard Ellis to handle on-site property management and leasing duties, respectively.