Investment firm BH Properties is adding an executive to its acquisitions team as it continues its commercial real estate buying spree kicked off this year.
The Los Angeles-based firm hired Mark Workman, previously an executive overseeing Lincoln Property Co.'s 3 million-square-foot real estate portfolio, as managing director of investment and asset management.
This year, BH Properties has acquired nine assets across various property types in just as many months, and the firm says it is still scouting "key acquisition opportunities that align with our strategy," President Jim Brooks said in a statement.
BH Properties' portfolio of owned and managed properties totals 11 million square feet across 16 states. The firm says it is seeking assets worth up to $100 million each in the western U.S. as it continues to expand.
The firm's most recent purchase is the 225,000-square-foot Elevate at Cornelius Pass office campus at 2025 NE Cornelius Pass Road in Hillsboro, Oregon, for $17.5 million.
Other purchased properties this year include the 405,000-square-foot mixed-use Hazard Center in San Diego’s Mission Valley; the 335,000-square-foot Pacific Place shopping center in downtown Seattle; and the historic, 117,000-square-foot 989 Market St. office building in downtown San Francisco. It paid a collective $123.5 million for the three properties.
Workman was brought on to help BH Properties "pursue our expansion goals," Brooks said in the statement. Prior to Lincoln, he was a vice president at Rockwood Capital, where he led asset management for a $2 billion portfolio of Southern California assets. Workman has held similar positions at AEW Capital Management and Key National Bank.