May 20, 2019 Comments Off on Viking Acquires Cincy-Area Office Asset in JV with DRA Views: 496 Midwest, National News, Ohio

Viking Acquires Cincy-Area Office Asset in JV with DRA

Order Reprints...

Cincinnati-based Viking Partners Fund IV, LLC acquired Towers of Kenwood, a Class A, 404,425-square-foot office building in suburban Cincinnati. Viking Partners bought the seven-story property in a joint venture with a fund managed by New York City-based DRA Advisors LLC for a reported $80.6 million. The seller was a JV between Hines and an affiliate of Oaktree Capital Management LP.

Viking Partners’ Bret Caller says, “The Kenwood office market provides us with a strong value-add opportunity for rent growth. Towers of Kenwood is a best-in-class asset located within an extremely attractive office sub-market, and conveniently close to numerous surrounding amenities.”

The Viking and DRA are planning additional capital improvements to the 97%-occupied asset at 8044 Montgomery Rd., including upgrades to restrooms, corridors and lobbies.

Cushman & Wakefield’s Capital Markets team in Cincinnati handled the deal.

Connect With Viking Partners’ Caller

Connect With Hines

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.

Send this to a friend