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BPM Real Estate pays $120M for 2 Calif. office properties

BPM Real Estate Group acquired two office properties in California in separate transactions for a combined price of $120.0 million, Commercial Property Executive reported.

BDC, a division of BPM Real Estate, bought a 109,948-square-foot building in Aliso Viejo for $59 million from AEW Capital Management Inc. via a 1031 exchange, according to the report. The four-story asset at 1 Enterprise Aliso Viejo is built on a 7.3-acre site and is fully leased to Microsemi Corp. and Ambry Genetics Corp., the report noted.

BPM Real Estate also purchased a 117,739-square-foot property in San Jose from Han's Laser for $61 million, the news outlet reported, citing data from Yardi Matrix.

The two-story building was developed on a 5.9-acre site at 2300 Orchard Pkwy. and is fully leased to Cavium Inc., the report noted.