Stoneridge Capital Partners Enters San Diego Market with Acquisition of 46,620-Square-Foot Office Property

    COSTA MESA, CA, June 25, 2010 /24-7PressRelease/ -- Stoneridge Capital Partners, a Newport Beach, Calif.-based real estate investment company, has acquired the 46,620-square-foot Four Governor Park office property in San Diego. The all-cash acquisition marks Stoneridge's entry into the San Diego market and continues the firm's aggressive portfolio expansion strategy focused on opportunistic investments.

"Four Governor Park benefits from a historically high occupancy rate, central location near regional housing and built-in demand generated from the surrounding employment center," said Greg Merage, CEO of Stoneridge Capital Partners. "These variables made Four Governor Park an ideal acquisition to mark our entry into the San Diego market as we leverage our strong cash position to increase our presence within the region."

The multi-tenant office property located at 5080 and 5090 Shoreham Place is currently 90 percent leased to a diverse mix of tenants. Suites within Four Governor Park range from approximately 700 square feet to 3,500 square feet.

Four Governor Park is centrally located in San Diego's "Golden Triangle" area, immediately south of the La Jolla office and retail district. This location provides excellent freeway access for employees commuting from residential communities within the region and convenient proximity to a range of nearby amenities, including some of the area's top restaurants and hotels.

Brian Driscoll of Cassidy Turley/BRE Commercial represented the seller in the transaction.

"We are eager to find more opportunities in all property types, including office, retail, hotel and apartments, in key San Diego sub-markets. We believe they will provide exceptional long-term growth potential," said Merage.

With this purchase, Stoneridge has now completed more than $155 million in acquisitions within the past 12 months, bringing its total portfolio of assets under management to approximately one million square feet.

Stoneridge is engaged in an active expansion of its real estate portfolio through direct acquisitions in retail, office, hotel, multifamily and residential land in major markets located throughout California, Phoenix, Las Vegas, Hawaii and Denver.

About Stoneridge Capital Partners
Stoneridge Capital Partners is a Newport Beach, Calif.-based private real estate investment company. The company invests globally through real estate private equity funds, joint ventures and direct investments through a long-term investment philosophy focused on acquiring assets with optimum value. Funded internally, Stoneridge has the agility and flexibility to close quickly on transactions on an all-cash basis. Additional information on Stoneridge is available at www.stoneridgecp.com.

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