September 22, 2017
A joint venture between Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners divested a seven-property office portfolio in Raleigh-Durham, NC for $105.5 million. An undisclosed institutional investor bought the assets, which total 581,619 square feet and are within the Perimeter Park business park.
The properties are located at 1500, 1600, 1700, 1800, 2000 and 2250 Perimeter Park, and 3800 Paramount Parkway within the Research Triangle Park/Interstate 40 submarket. Completed in the 1990s and early 2000s, the portfolio is approximately 91% leased to a STEM-based tenant roster.
HFF’s Scot Humphrey, Ryan Clutter and Chris Lingerfelt marketed the offering on behalf of the seller.
For comments, questions or concerns, please contact Dennis Kaiser