Arch Companies is pleased to announce that the firm has acquired a 30,000-square-foot office property in Bakersfield, California with MBARKGlobalLLC for the purchase price of $9,200,000. The property is fully leased to Wells Fargo, a major credit tenant.
Building a Premier Property Portfolio
“MBARKGlobal and Arch Companies share a commitment to protecting and growing our financial future through secure investment strategies,” said Daniel Gryfe, managing partnerof MBARK. “Arch is an excellent partner because they are a driven company that hit the ground running on new acquisitions and development and their ambition aligns well with our highly selective and client-centric approach.”
“Partnering with MBARKGlobal in acquiring this property is another exciting step in our national reach,” said Arch Companies’ Partner Jared Chassen. “The greater L.A. area presents excellent real estate opportunities in an up-and-coming market and we look forward to working with MBARKin optimizing return on ourinvestment.”
About Arch Companies
Arch Companies specializes in real estate investment and management, with a concentration on multi-family and mixed-use developments within the U.S. that have strong growth outlooks. The partners of Arch, Jeff Simpson and Jared Chassen, have over 35 years of experience investing in and managing institutional real estate, with a focus on multi-family assets across New York, Miami and California.
MBARK Global LLC is a real estate private equity firm that focuses on income producing and opportunistic asset classesaround the world.Since 2008 MBARKhas been involved in over $1 billion of transactions in the multi family, office, development and lending space.