Swift Real Estate Partners’ Fund III acquires second asset

San Francisco–based Swift Real Estate Partners has purchased CPTwo, located on High Bluff Drive in San Diego. The seller and financial terms of the deal were not disclosed.

This is Swift’s second value-add acquisition for its recently raised $500 million Fund III.

CPTwo is comprised of two four-story office buildings totaling approximately 119,000 square feet in the prime San Diego submarket of Del Mar Heights. Historically, Del Mar Heights has been a top-performing submarket in the San Diego region, with rents 33 percent above market averages. Swift’s upcoming planned capital improvements will draw new tenants searching for experiential office space and allow CPTwo to compete with neighboring class A assets along the best commercial corridor in Del Mar.