GI Partners has acquired a property in California for its open-ended core-plus life science and technology-related US real estate fund.

The manager said it bought the 12800 Culver Boulevard asset in Los Angeles on behalf of its Essential Tech + Science Fund (ETS Fund).

John Sheputis, managing director, and Rahul Chandiok, principal, of GI Partners said the facility provides large-scale data storage and high-capacity digital content distribution for millions of customers.

The property is a great fit for the ETS Fund given the ”long-term cash flow profile, advantaged location, market-leading tenant, and significantly above-standard digital infrastructure improvements”, they added.

A year ago, GI Partners raised an initial $1.45bn for ETS Fund as the fund received commitments from a diverse investor base including the Illinois State Universities Retirement System and the Employees Retirement System of Texas.

Since launching in 2021, the ETS Fund has acquired 20 properties across the US.

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