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Colliers has arranged the recapitalization sale of the Tech Park @ Goleta Portfolio, a Class A technology campus in the Central Coast city of Goleta. The portfolio consists of 17 buildings across five business parks totaling 733,497 square feet. While the transaction price was not formally disclosed, the Pacific Coast Business Times reported the deal value at $235 million, characterizing it as a record-setting trade for the region.
The Tech Park @ Goleta Portfolio is positioned as a large-scale, institutionally owned business park concentration serving technology and aerospace users. The buildings are described as Class A assets, underscoring the quality of the improvements within this multi-park campus environment. The size and pricing of the recapitalization highlight the portfolio’s role as a flagship property cluster within Goleta’s commercial real estate landscape.
Participants in the recapitalization included seller Majestic Asset Management, along with Praelium, Blackbird Investment Group and H.I.G. Capital. The specific equity roles of Praelium, Blackbird Investment Group and H.I.G. Capital were not detailed, but all were cited as parties to the recapitalization. The combination of these firms around a single, large portfolio underscores the institutional nature of the capital stack involved in the transaction.
Sean Fulp, vice chair at Colliers and the lead broker on the assignment, noted that Goleta’s mix of entrenched technology and aerospace tenants, limited new supply and strong institutional ownership underpins continuing investor conviction in the local market. This perspective links the record valuation to underlying tenant demand dynamics and constrained new development, which together support pricing for high-quality assets.
Colliers assembled a sizable brokerage team to exclusively market the Tech Park @ Goleta Portfolio and execute the recapitalization sale. Alongside Fulp, the Colliers roster included vice chair Michael Kendall, executive vice presidents Mark Schuessler and Gian Bruno, senior vice president Kenny Patricia and associate vice president Blake Hammerstein. These professionals worked in partnership with local market experts Francois DeJohn and Caitlin Hensel, both partners at Hayes Commercial Group, to position the portfolio to investors and facilitate the transaction.
On the capital advisory side, CBRE executive vice presidents Brad Zampa and Mike Walker provided debt and structured finance advisory services in connection with the recapitalization. Although specific loan terms, proceeds and lender details were not disclosed, the presence of a dedicated debt advisory team indicates that the recapitalization involved a significant financing component alongside the equity realignment.
The record pricing reported for the Tech Park @ Goleta Portfolio signals that investors are still willing to commit substantial capital to large, institutionally owned technology-oriented business parks in supply-constrained coastal markets. The transaction also reinforces Goleta’s standing as a meaningful node for technology and aerospace activity on the Central Coast, supported by a tenant base and ownership structure that continue to attract institutional interest.
The post Colliers Recapitalizes Tech Park @ Goleta Portfolio in Record $235M Deal appeared first on CRE Market Beat.
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