Preylock acquired T-Mobile’s Global HQ in April 2019, following a thorough analysis of the pending merger between T-Mobile and Sprint. Final regulatory approval from the US Department of Justice occurred in April 2020. T-Mobile has since demonstrated consistent growth, ultimately becoming the nation’s second-largest wireless carrier. The value-add investment capitalizes on strong tenant credit, attractive fixed-rate debt, and the strength of the Bellevue business environment.
Preylock’s acquisition of a strategically positioned 855,000-square-foot facility, fully leased to Amazon in 2020, marks a significant achievement in our investment portfolio. Located in the heart of North Las Vegas’s distribution network, this state-of-the-art facility—is in a critical location, in brand-new condition, and with a world-class tenant in place—aligns perfectly with our investment thesis. This acquisition is further bolstered by attractive fixed-rate debt, showcasing our commitment to leveraging superior tenant credit and strategic asset positioning.
In 2018, Preylock acquired this campus in the Willows Creek technology corridor, which has benefitted from significant focus and growth by leading technology companies. The campus was partially leased (only 60%) to Facebook, now Meta. Meta has since expanded its leasing footprint to 97% of the Preylock campus. The investment has focused on capitalizing on the critical location and expanding Meta’s occupancy, supported by attractive fixed-rate debt.
Strategically located along the Interstate 81 corridor with logistical access to the major northeastern metros, Vista Business Park is a 1.19-million-square-foot facility, fully leased to Amazon. The investment has benefitted from its critical logistics location, superior tenant credit, attractive fixed-rate debt, and best-in-class quality of the facility.
In 2018, Preylock acquired this value-add 302,000-square-foot campus, strategically located in the north San Jose market. Preylock has completed a thorough campus upgrade, including all exterior surfaces, the construction of a tenant gym, and all interior common areas, in addition to tenant-specific improvements. The campus is the sub-market leader in net effective rate and occupancy, exhibiting its strength and resilience throughout and after COVID.
Founded in 2015 in Los Angeles, CA, Preylock has expanded to serve the needs of investor groups ranging from publicly traded corporations and insurance companies to sovereign wealth funds and high-net-worth individuals.
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