Greater Fremont tech campus attracts veteran shoppers, site value skyrockets

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FREMONT – A large technology campus in the Fremont area, now popular with tech companies, was acquired by a group led by an experienced real estate firm in a deal that shows the site’s value has increased dramatically.

Campus @ Ardenwood, a four-building complex on Kaiser Drive in Fremont, was acquired by Alloy Properties subsidiary, TPG Real Estate Partners’ subsidiary of life sciences and innovation.

The new owner, through an affiliate, Argon PropCo 2021, paid $ 140 million for the tech and biotech campus, according to filings filed July 27 with the Alameda County Registrar.

“We are delighted to expand our portfolio with the acquisition of Campus @ Ardenwood, an anchor entity in the fast-growing Ardenwood submarket in East Bay,” said Jacob Mueller, Managing Director of TPG Real Estate Partners.

Campus @ Ardenwood is approximately 323,000 square feet, according to a promotional brochure distributed in 2017.

The seller in the recent deal was an affiliate of RREEF, the real estate investment arm of Deutsche Bank.

In 2018, the RREEF affiliate paid $ 73.3 million for a technology campus, the news organization reported. This suggests that the value of the site has almost doubled in about three years.

This is the first investment by Alloy, a subsidiary of TPG Real Estate, in the Bay Area.

“Alloy Properties is focusing on acquiring office and research campuses that can be converted into best-in-class facilities for the life sciences, biotechnology and innovation,” Alloy said on its website.

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