Los Angeles-based office landlord Arden Realty Inc. said on Thursday it bought Towne Centre Plaza, a three-building office complex in Foothill Ranch.
The three Foothill Ranch buildings total 205,077 square feet.
Arden bought Towne Centre, along with a two-building, 196,501-square-foot complex in Phoenix, from Irvine-based Layton Belling and Associates, a real estate investment and management company.
Arden, which itself was acquired earlier this year by the real estate investment arm of General Electric Co., paid a combined $107.5 million for the Foothill Ranch and Phoenix properties.
Layton Belling had owned the Foothill Ranch property for less than a year.
Last February, Layton Belling bought the offices as part of its $435 million acquisition of Bedford Property Investors Inc., a real estate investment trust based near Oakland.
Layton Belling added nearly 7 million square feet of office and industrial space to its portfolio as a result of the Bedford acquisition.
Arden owns about 16 million square feet comprised of 111 properties and 191 buildings from Ventura to San Diego counties. In Orange County, its holdings total about 19 office buildings, with about 3.4 million square feet of space.
