Sorrento Towers (Prime US REIT)

Prime US REIT is acquiring two grade A office towers in California and Florida for USD245 million.

The assets are namely Sorrento Towers in San Diego, and One Town Center in Boca Raton, and the properties are being acquired from unrelated third-party vendors.

Sorrento Towers comprises two seven-story office towers and sits above a three-level podium garage.

Meanwhile, One Town Center is a 10-storey office tower and a five-storey attached parking garage.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.