Connect Media > National News > Southwest > Oklahoma > Tanenbaum Lands 42-Asset GSA Portfolio for $106M

January 7, 2021 Comments Off on Tanenbaum Lands 42-Asset GSA Portfolio for $106M Views: 536 National News, Oklahoma, Southwest

Tanenbaum Lands 42-Asset GSA Portfolio for $106M

Order Reprints...

Tanenbaum Equity Partners (TEP), a subsidiary of Oklahoma City-based Gardner Tanenbaum, has acquired the CoreCivic National GSA Portfolio. The portfolio consists of 42 federally leased properties, primarily build-to-suits, located in 11 states and totaling more than 573,000 square feet. The total acquisition price was $106,500,000 before closing costs and construction capital reserves.

TEP was represented in the transaction by both The Ficke Team of Colliers International, as investment sales representatives, and Marcus & Millichap Capital Corporation (MMCC) as financing intermediary and advisor.

A Dallas-based capital markets team at MMCC led by Sunny Sajnani, Todd McNeill and Brandon Wilhite secured acquisition financing from Arkansas-based Centennial Bank. The senior loan was structured as a fixed-rate bridge facility to acquire the 42-asset portfolio, and a line of credit to provide future funding for capital improvements and tenant improvement projects. Plans include 17 improvement projects on behalf of the federal government.

Pictured: 6-8 Southern Oaks Ct. in Savannah, GA.

Connect With Colliers’ Ficke Team

Connect With MMCC’s Sajnani

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.