SOURCE: Glenborough, LLC

Glenborough, LLC

October 14, 2010 14:10 ET

Former REIT CEO Acquires Glenborough, LLC

SAN MATEO, CA--(Marketwire - October 14, 2010) -  Glenborough, LLC, a real estate investment and management company, announced today the company has been acquired by a private investor group led by Andrew Batinovich, the company's CEO. In addition the group also acquired a portfolio of real estate joint venture interests.

The operating company and the related joint venture assets were part of Glenborough Realty Trust, a NYSE listed REIT, which sold itself to a real estate private equity fund controlled by a major investment bank in 2006 in a transaction valued at over $1.9 billion. Mr. Batinovich was a co-founder of Glenborough Realty Trust and was President and CEO at the time of the sale. In connection with the 2006 transaction, Mr. Batinovich and the Glenborough Realty Trust senior management team were retained to operate the new private entity, and the team remains together in the newly re-acquired Glenborough, LLC.

Glenborough, LLC, through an affiliate, will continue to manage and hold an equity interest in the legacy assets of Glenborough Realty Trust acquired in the 2006 transaction.

Glenborough and its predecessors have a 30 year track record of acquiring, owning, selling, managing, leasing and developing commercial property. The management team of Glenborough, LLC is largely the same group that led Glenborough Realty Trust to an annual return of 16% over 11 years as a public company. Going forward, Glenborough, LLC will serve as a sponsor for real estate private equity funds that own high quality commercial real estate and will seek to acquire additional real estate holdings both directly and indirectly with institutional partners.

Glenborough, LLC is a privately held full service real estate investment and management company focused on the acquisitions, management, leasing, and development of institutional quality commercial properties. Glenborough, LLC has offices located in San Francisco, San Mateo, Irvine, San Bernardino, San Diego, Denver, Las Vegas, Tampa, and Washington DC. For further information, visit www.glenborough.com.

Contact Information

  • Contact:
    Andrew Batinovich
    President and CEO
    Phone: 650.343.9300
    e-mail: Email Contact

    Glenborough, LLC
    400 South El Camino Real
    San Mateo, CA 94402-1708