BCP

BCP is a 230,000 RSF seven-building office campus located in Brea, CA that a partnership between Arch Anchor & Waterford Property Company acquired in late 2019 in a Joint Venture with Kairos Investment Management.

BCP had previously been owned by a family ownership group who had owned the property for decades, and decided to sell the property as part of its estate planning.

Utilizing a strong working relationship with the investment sales brokers, the partnership acquired the property on an off-market basis in December 2019, several months before the global COVID-19 pandemic.

The partnership was able to successfully work through challenges brought on due to the pandemic, potential rent collection issues and worries over the demand for office space. Today, BCP enjoys a very high occupancy with a strong roster of well-respected tenants, and no collection issues based on a very active and engaged asset management approach. In addition, the partnership has implemented a robust amount of capital into the property and building systems resulting in higher rents and returns than previously underwritten, despite issues facing other properties.

The partnership refinanced the property with an eye for a maintaining strong cash flow and occupancy on a longer-term hold basis.

TYPE: Office Campus

ROLE: General Partner

ACQUISITION DATE: December 2019

SALE DATE: N/A Active Investment