Hong Kong Investor And US Partner Snap Up Bellevue Buildings
Hong Kong-based Gemini Investments, in partnership with Gemini Rosemont of New Mexico, acquired the three-building One Twelfth @ Twelfth campus in Bellevue for an unspecified price. The last time the 509k SF property traded, back in 2004, Principal Global Investors, the real estate arm of Principal Financial Group, bought it for more than $134M.
BitTitan and VoiceBox Technologies recently inked deals for a total of more than 127k SF at One Twelfth, bringing the property to full occupancy. Gemini Rosemont CEO Michael Mahony said the company's looking for more properties in the Puget Sound market, the Puget Sound Business Journal reports.
Eastdil Secured brokered the sale. KG Investment Properties will manage the campus, which is just off I-405, while the Broderick Group will handle leasing for the new owners. [PSBJ]