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Mann Biomedical Park In Valencia Purchased By Local Business Owner

Mann Biomedical Park located in Valencia has been bought as a joint purchase by Intertex Companies, a Valencia commercial real estate investment, development and management company.


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“We are very pleased to have the opportunity to partner with Oaktree to acquire these irreplaceable biomedical campuses located directly in our backyard.” said Dale Donohoe, President of Intertex. “Rarely does an opportunity become available to buy such high-quality, unique real estate of this size in the Santa Clarita Valley.” 

Intertex is a local developer and general contractor with over 30 years of experience in the Santa Clarita Valley.

City officials are happy with the large purchase, said Ken Striplin, city manager.

“The sale of the Mann Biomedical Park further positions Santa Clarita as a leading community for medical device innovation and presents new opportunities to bring high-paying jobs in the life sciences field to Santa Clarita,” Striplin said.

The purchase also included a Sylmar Biomedical Park located in Sylmar.

The portfolio was purchased by a joint venture between Intertex and funds managed by Oaktree Capital Management L.P., according to a news release. The portfolio was sold by entities controlled by Alfred Mann, who was represented in the sale by Kevin Shannon, Craig Peters, Ken White, Doug Sonderegger and Laura Stumm of CBRE. 

Bank of America provided debt financing which, was procured by CBRE’s Val Achtemeier, according to a news release.

“The portfolio consists of a 612,075 square foot R&D campus in Valencia and a 181,025 square foot R&D, industrial campus in Sylmar,” according to officials. “Additionally, Mann Biomedical Park is fully entitled to build additional industrial and office buildings throughout the 167 acre, amenity-rich park.”

The portfolio is home to a wide variety of tenants with a concentration of medical device and biotechnology firms including Boston Scientific, Second Sight, Quallion and Bioness, according to a news release. The Alfred Mann Foundation has been a tenant since 2002 and serves as an internationally recognized leader in the development and incubation of lifesaving medical technologies.    

“Alfred Mann had incredible vision years ago to create a campus to foster the development and growth of local biomedical firms,” said Mark Jacobs, managing director of Oaktree. “We look forward to building on his foundation and taking Mann Biomedical Park to the next level.  Once our planned improvements are complete we believe the campus will be the one of the most desirable biomedical hubs in the United States.” 

Craig Peters and Doug Sonderegger of CBRE will continue to provide leasing services to the new owners for existing space, as well as numerous build-to-suit opportunities, according to a news release.

“The new owners’ significant capital investment in the Portfolio, along with their expertise in developing, renovating, leasing and managing real estate projects of this size, positions these assets as the premier office, R&D and industrial campuses in the marketplace,” said Peters, executive vice president of CBRE. “We look forward to working with Intertex and Oaktree to execute their business plan and enhance the Portfolio for tenants and the community.”

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Intertex Companies

Intertex Companies has developed real estate projects in excess of 2 million square feet and has completed over $1 billion in construction including office, industrial, studios, retail, institutional, schools and government facilities.

The firm has established great relationships with decision makers at the city of Santa Clarita and has vast experience with navigating the local jurisdictions to complete complex development projects. Dale Donohoe, president and CEO of Intertex Properties, has lived in the Santa Clarita Valley for 51 years.

 Oaktree Capital Management, L.P.

Oaktree is a leader among global investment managers specializing in alternative investments, with $93.2 billion in assets under management as of Sept. 30, 2014.

The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 17 cities worldwide.

KHTS AM 1220 - Santa Clarita Radio

Mann Biomedical Park In Valencia Purchased By Local Business Owner

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About Kimberly Beers

Kimberly Beers is a Santa Clarita native. She received her Bachelor's Degree in Journalism from California State University, Northridge in 2013. While attending the university, she focused her attention on news writing and worked as a primary news writer for the campus' award winning radio station and televised news program. She began writing news stories for KHTS in 2014 and hopes to have a lifetime career dedicated to writing and sharing the news