5 O.C. Business Parks Sell for $49 Million
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Chalk up another big property sale to a real estate investment trust, this one by Swede-Cal Properties and Viking Partners of Newport Beach.
Swede-Cal and Viking, both formed in the late 1980s by Swedish immigrants Jan-Erik Palm and Kent Berg, said Tuesday they have sold five business parks for $49 million to Kilroy Realty Corp. in El Segundo. The parks are in Aliso Viejo, Anaheim, Irvine, Lake Forest and Huntington Beach.
Palm and Berg had raised money for those business parks from various Swedish investors. The pair said the investors now want to pursue other deals through a new Palm and Berg company, Viking Investors LLC.
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E. Scott Reckard covers real estate for The Times. He can be reached at (714) 966-7407 and at [email protected]
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