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Goldman Sachs, Pendulum Property JV buys Calif. office campus for $83M

Goldman Sachs Group Inc.'s Goldman Sachs Asset Management Private Real Estate and joint venture partner Pendulum Property Partners LLC bought the class A Axis office campus in Anaheim, Calif., for $83.1 million from The Seligman Group, Commercial Property Executive reported, citing Yardi Matrix.

The five-building campus spans 301,761 square feet across 2390 E. Orangewood Ave. and 2121, 2150, 2170 and 2190 S. Towne Centre Place in the Platinum Triangle submarket.

The property is leased by Climatec, The Orange County Register, Easterseals and Real Estate Trainers. Its weighted average vacancy rate stands at 21.1%, the publication added, citing Yardi Matrix data.

The Seligman Group had acquired the asset for $68.2 million in 2005.