Coretrust Capital Partners, LLC
| File:CoretrustCC logo.jpeg | |
| Privately held company | |
| ISIN | 🆔 |
| Industry | Real estate |
| Founded 📆 | 2014 |
| Founders 👔 | Thomas S. Ricci, Randall L. Scott, John R. Sischo |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | coretrustcapitalpartners |
| 📇 Address | |
| 📞 telephone | |
Coretrust Capital Partners, LLC is a private real estate operating and investment company with offices in Los Angeles, Philadelphia, and Dallas. The company operates commercial office properties in Los Angeles and Philadelphia.
History[edit]
The company was formed in 2014 by Thomas Ricci, Randall Scott, and John Sischo,[1] former executives and board members of Thomas Properties Group (TPGI: NYSE).
After Thomas Properties Group was acquired in December 2013, Coretrust was formed in 2014.[2] In October 2015 Hawkeye Partners, a private equity firm in Austin TX, selected Coretrust as a new generation real estate company and invested $200 million in Coretrust Value Fund I, which ultimately grew to $290 million.[3]
In March 2016 Coretrust advised Korea Investment Management in acquisition of Cira Square, 863,000 square foot office building in Philadelphia.[4]
In June 2016, the registration of Coretrust Investment Management, LLC with the U.S. Securities and Exchange Commission as an Investment Adviser became effective.
In October 2016 the company purchased the controlling interests in Two Liberty Place, a 1.2 million square foot building in Philadelphia, by acquiring the 950,000 square foot office tower.[5]
In November 2016 Coretrust acquired a 48-story, 914,000 square foot office tower at 444 S. Flower St. in downtown Los Angeles (FourFortyFour South Flower).[6][7]
In May 2018, Coretrust advised Korea Investment Management on the acquisition of the U.S. Headquarters of GlaxoSmithKline in Philadelphia's Navy Yard.[8]
In May 2018, Coretrust acquired Corporate Center Pasadena, the largest office campus in Pasadena, CA, comprising four buildings and 650,000 square feet. In early 2020, Coretrust rebranded the project “Pasarroyo” in nod to the Arroyo Seco, which passes through Pasadena.[9][10]
In January 2019, Coretrust hacked its FourFortyFour South Flower in downtown Los Angeles to create an open-air terrace that allows fresh air and natural light into a floor, the first hack of a hermetically sealed office tower.[11] The space will also featured 5G speeds.[12]
References[edit]
- ↑ "Former Thomas Properties Group Execs Form New Venture". Commercial Property Executive. Commercial Property Executive. 6 February 2014.
- ↑ "Bloomberg Profile". Bloomberg. Bloomberg. 2014.
- ↑ "Hawkeye To Invest $200M in Coretrust". PereNews. PereNews. 14 October 2015.
- ↑ "Coretrust Advises Korea Investment Management in Its Acquisition of Cira Square in Philadelphia". businesswire. 28 March 2016. Retrieved 12 June 2020. Unknown parameter
|url-status=ignored (help) - ↑ "Los Angeles-based real estate investment firm buys Two Liberty offices". The Philadelphia Inquirer. The Philadelphia Inquirer. 21 October 2016.
- ↑ "A new look for the 'L.A. Law' building includes 'courtyards in the sky'". Los Angeles Times. Los Angeles Times. 28 December 2016.
- ↑ "Coretrust Capital pays $336m for Los Angeles office building". IPE Real Assets. IPE Real Assets. 6 January 2017.
- ↑ "Korean investment group buys Navy Yard building for $130M". Curbed Philadelphia. Curbed. 8 May 2018.
- ↑ "Coretrust to acquire major Pasadena office complex for $260M". TheRealDeal. TheRealDeal. 14 March 2018.
- ↑ "Pasadena's Largest Office Campus Sells To Coretrust For $250M". Bisnow. Bisnow. 29 May 2018.
- ↑ "How to cure "sick buildings" with fresh air". Fast Company. Fast Company. 26 April 2019.
- ↑ "Hacking the Highrise: The Art of Workplace at FourFortyFour South Flower". Urbanize Los Angeles. Urbanize. 9 May 2019.
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