DALLAS & NEW YORK & LONDON & TOKYO--(BUSINESS WIRE)--September 01, 2026-- 
 
   Lone Star Funds ("Lone Star") today announced that an affiliate of Lone 
Star Real Estate Fund VII, L.P. has successfully completed the 
acquisition of the largest institutional aggregation of Class A, 
predominantly single-story R&D real estate assets in the Silicon Valley. 
 
 
   The portfolio totals 2.2Mn square feet across six campuses, 50 
buildings and 140 acres in Silicon Valley's Golden Triangle, 
conveniently providing access to the broader San Francisco Bay Area and 
its robust business community. The assets contain purpose-built R&D 
capabilities required by AI-, advanced manufacturing-, medical device- 
and semiconductor-focused clients, among others. This specialized 
infrastructure includes advanced modifications related to power, HVAC, 
labs, clean rooms and loading facilities, tailored to the unique needs 
of tenants. 
 
 
   Lone Star plans to invest in the current capabilities across the 
portfolio, enhancing its offering through value-additive upgrades, while 
also actively managing the assets to continue to provide high-quality 
services to new and prospective tenants. The scale of the portfolio also 
provides significant diversification and growth potential, allowing for 
greater flexibility to meet the needs of a rapidly evolving client base. 
TMG Partners and Grove are joint venture partners in the investment and 
will operate the portfolio. 
 
 
   "California is the largest manufacturing state in the U.S., employing 
over 1.2 million workers and contributing over $390 billion to GDP. We 
see significant opportunity in this portfolio given the strong tailwinds 
across the business landscape right now in the Silicon Valley," said 
Jérôme Foulon, Global Head of Commercial Real Estate at Lone 
Star. "We have a high level of conviction in the resurgence of the San 
Francisco Bay Area, and the purpose-built nature and mix of capabilities 
in this portfolio will be immediately attractive to tenants who need 
advanced, turnkey facilities." 
 
 
   This acquisition marks the second substantive investment in the broader 
Bay Area for Lone Star over the past 12 months, following the 
acquisition of the mortgage secured by 600 California Street in San 
Francisco in January 2026. 
 
 
   About Lone Star 
 
 
   Lone Star is a leading investment firm with its principal office in 
London, UK advising funds that invest globally in private equity, credit 
and real estate. The firm has been successfully navigating complex 
situations for over 30 years. The funds are experienced value investors 
that seek opportunities in situations that are in flux or complicated by 
specific structural or financial factors, regardless of the prevailing 
market environment. Our deep bench of senior leaders and expert deal 
professionals ensures a strong foundation for successful investments and 
strategic decision-making. Since the establishment of its first fund in 
1995, Lone Star has organized 26 private equity funds with aggregate 
capital commitments totaling approximately $96 billion. For more 
information regarding Lone Star Funds, go to www.lonestarfunds.com. 
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    CONTACT:    Media Contacts: 
 
   Lone Star Funds 
 
 
   mediarelations@lonestarfunds.com