Basin Street buys portfolio of 17 office buildings

Basin Street Properties of Reno said last week it acquired a portfolio of 17 office buildings in six locations in Santa Rosa, Calif.

The portfolio includes 697,500 square feet of space. It's 77 percent leased.

Matt White, president of Basin Street Properties, said the company plans a multi-million program for cosmetic and functional upgrades of the buildings.

The company acquired the Santa Rosa buildings from Equity Office Properties. The purchase price wasn't disclosed.

In 2005, Basin Street sold a $263 million portfolio in Sonoma County, California, to Equity Office Properties. It's now bought back 23 of the buildings in transactions that began last year.

Basin Street also has played roles in managing or development some of the newly acquired properties, and White said his company has a close of understanding of the buildings and their locations.

The Reno company now owns 1.8 million square feet of commercial real estate in Sonoma County.

White said his company is talking with several current tenants about possible expansion, and it's talking with potential new tenants as well.