Sep
21
Starwood, Trinity, Vanderbilt Sell Big in NC
ByThe JV purchased a seven-property portfolio completed in the 1990s and early 2000s which is currently about 91 percent leased to a STEM-heavy tenant roster. HFF marketed the offering on behalf of the seller and procured the buyer.
A joint venture of Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners has sold, for $105.5 million, a seven-property, 581,600-square-foot office portfolio in the Perimeter Park in Raleigh-Durham, N.C. HFF marketed the offering on behalf of the seller and procured the buyer, an undisclosed institutional investor.
The seven properties are at 1500, 1600, 1700, 1800, 2000 and 2250 Perimeter Park and 3800 Paramount Parkway, within Raleigh-Durham’s Research Triangle Park/Interstate 40 submarket. The portfolio has easy access to interstates 540 and 40, Research Triangle Park and Raleigh-Durham International Airport as well as residential neighborhoods in Cary, West Raleigh and North Raleigh…
