IRVINE, CA – A fund managed by Goldman Sachs Asset Management, the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), selected Stream Realty Partners to take over management, leasing and rebranding responsibilities of its newly acquired property, Newport Plaza located at 895 Dove Street, Newport Beach, Calif. The five-story, 107,472-square-foot building is situated in a prime location adjacent to Jamboree Road at CA-73, in the Orange County Airportoffice market. Currently 98 percent leased, Stream Realty plans to enhance the tenant experience, offering first class service and amenities.
The asset will be the latest property managed by Stream Realty to offer unique, high-end amenities to tenants and guests. New management and ownership will position individual suites, as they come available, to create a sophisticated, modern corporate culture for each tenant.
“This assignment includes new options that we’re offering Orange County businesses to get the most out of their office space experience,” said Blaine Annett, co-managing partner of Stream Realty. “Newport Plaza is an excellent opportunity to distinguish ourselves in the marketplace and offer the highest level of service to our partners and customers.”
Located near the intersection of Bristol Street North and Jamboree Road, at the 73, Newport Plaza is located steps away from amenities including Equinox Fitness Club, Pascal Epicerie, Juliette Kitchen & Bar, Starbucks and numerous other restaurants.
About Goldman Sachs Asset Management:
Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $849 billion as of June 30, 2013. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. www.goldmansachs.com
About Stream Realty Partners:
Stream Realty Partners, L.P. is a full-service real estate investment, development, and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 450 real estate professionals nationwide with office locations inAtlanta; Austin, Texas; Charlotte, N.C.; Dallas/Ft. Worth; Denver; Houston; Los Angeles; Orange County, Calif.;San Antonio; and Washington, DC. Stream Realty leases and/or manages more than 2.5 million square feet of space in Orange County and more than 100 million square feet of commercial buildings nationwide. Stream Realty completes more than $1 billion in real estate transactions annually and is considered one of the most active investors and developers in the Southwest. Stream Realty creates a distinct culture that is best summarized by its company values: Nice. Smart. Honest. Passionate. www.streamrealty.com
Nicole Inal at 714.263.8731 or [email protected]
Brian Devenny at 714.263.8748 or [email protected]