Dealmaker: GI Partners Acquires KOMO Plaza for $276M

GI Partners, San Francisco, acquired Seattle data center KOMO Plaza from Hines Global REIT, Houston, for $276 million.

Formerly known as Fisher Plaza, KOMO Plaza is a multi-tenant data center facility in an emerging downtown Seattle submarket. The property, adjacent to the Space Needle and the Bill and Melinda Gates Foundation, provides information technology infrastructure, office and business continuity services to local, national and international companies.

Hines acquired the asset in December 2011 for $160 million.

“KOMO Plaza borders South Lake Union and the Queen Anne Submarket, an area that has seen significant growth from Amazon.com, University of Washington, biotech and other technology users in recent years,” Hines Senior Managing Director Ty Bennion said.

The two-building campus combines data center, network neutral interconnections and class A office space in one 294,000-square-foot location at 100 and 140 Fourth Avenue North. 

With this acquisition, GI Partners now manages more than $13 billion in capital commitments through private equity and real estate strategies for institutional investors.