Ocean Terrace Corporate Center
Ocean Terrace Corporate Center is located in Carlsbad, California and was purchased in 2011. The project consists of four Class A office buildings totaling over 177,000 square feet. The property was acquired as part of a complicated note purchase from a financial institution followed by a workout with the original borrower.
After acquisition, Regent stabilized the property and extended the leases for the two largest tenants, comprising over 50% of the leasable space at the corporate center. Additionally, Regent upgraded the interiors, mechanical systems and façade of the project to restore the corporate center to its Class A condition. Regent sold the project in May 2013.
Regent reacquired the project at the end of 2017.