ALBUQUERQUE, N.M. — Gemini Rosemont Commercial Real Estate is relocating its headquarters from Santa Fe to Los Angeles, reflecting the firm’s aggressive efforts to acquire high-quality commercial office properties in primary coastal markets and select secondary markets.
“We’re entering the next phase of our multi-pronged initiative to acquire Class A assets in the office sector in targeted, tech-centric coastal and gateway markets, and opportunistically in select target markets across the U.S.,” Gemini Rosemont CEO Ian Brownlow said in a prepared statement earlier this week.
The company signed a long-term lease in Century City, Los Angeles’ prestigious business district. That places it the heart of a world-class commercial real estate market and transportation hub, Brownlow said.
“(It) provides us with greater access to U.S. and international industry partners and markets,” he said.
The company has been based in Santa Fe for nearly three decades, since its original launch as BGK Properties in 1992. From its headquarters in Santa Fe, BGK executed more than $3 billion in real estate transactions, acquiring properties in 28 states, before Rosemont Capital bought a majority stake in the company in 2010, changing the name to Rosemont Realty.
The firm changed hands again in 2015, when the Hong Kong-based investment group Gemini Investments bought a majority stake, changing the name once more to Gemini-Rosemont Realty. Since then, the company has acquired about $400 million in Class A office buildings, with 8 million square feet of commercial office space in its current portfolio.
The company’s Santa Fe office will continue to provide support services to Gemini-Rosemont’s new L.A. headquarters and to five other regional offices in Dallas, Denver, Houston, New York and Seattle-Bellevue.
The company did not say how many Santa Fe employees would be affected, but the firm employs a total of 135 real estate and other professionals.