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HFF closes sale and arranges financing for two Class A office assets in Raleigh-Durham

03/22/2017

CHARLOTTE, NC – March 22, 2017 – Holliday Fenoglio Fowler, L.P. (“HFF”) announced today that it has closed the sale of and arranged acquisition financing for two Class A office properties within Keystone Office Park in Durham, North Carolina totaling 223,475 square feet.

HFF marketed Keystone 200 and 300 on behalf of the seller, American Real Estate Partners, and procured the buyer, Innovatus Capital Partners (“Innovatus”). Additionally, HFF worked on behalf of Innovatus to secure acquisition financing.

Keystone 200 and 300 are located at 530 and 430 Davis Drive, respectively, within Keystone Office Park. Located across the street from Research Triangle Park, the properties are conveniently situated close to Interstates 40 and 540 and the Triangle Expressway, providing easy access to downtown Raleigh, downtown Durham, Cary, Chapel Hill and the Raleigh-Durham International Airport. Additionally, the properties benefit from numerous surrounding academic institutions, including Duke University, The University of North Carolina Chapel Hill and North Carolina State University. Keystone 200 is fully leased to the National Institute for Environmental Health Sciences and Keystone 300 is leased to a diverse group of regional, national and international tenants including Verscend Technolgies, K&L Gates and SynteractHRC.

The HFF investment sales team representing the seller was led by director Scot Humphrey, senior managing director Ryan Clutter and associate director Chris Lingerfelt.

HFF’s debt placement team representing the buyer was led by director Brent Bowman.

“The Raleigh-Durham market has been experiencing robust growth and investors are paying more and more attention as a result,” said Bowman.  “We continue to see lenders compete aggressively on high quality, well-leased suburban office properties and expect that trend to continue throughout 2017.”

“We are extremely excited to become a part of the growing and thriving Raleigh-Durham community with the close of our purchases in Keystone Office Park,” said Andrew Dym, co-founder and President of Innovatus Capital Partners. “These exceptional assets with predictable and durable cash flow represent exactly the types of high-quality investments we look to make at Innovatus and I expect they will drive significant value for our portfolio.”

About American Real Estate Partners
American Real Estate Partners, a vertically integrated real estate fund manager, invests alongside of a cross section of domestic and international institutional partners. The firm concentrates primarily on acquiring Class A office assets, as well as real estate related financial instruments in markets throughout the Mid-Atlantic along the Eastern Seaboard of the United States. Since October 2003, American Real Estate Partners has completed 39 acquisitions totaling 15.1 million square feet, with an aggregate capitalization of $3.2 billion. The firm’s current portfolio totals 6.7 million square feet. For more information about American Real Estate Partners, please review the firms’ website at americanrepartners.com, or contact Jon Dishell, Managing Director of Fund Management and Investor Relations at JDishell@americanREpartners.com.

About Innovatus Capital Partners
Innovatus Capital Partners, LLC, is an independent adviser and portfolio management firm with ~$1.9B in assets under management. The firm adheres to an investment strategy that identifies distressed, disruptive and growth opportunities in the less obvious market segments across multiple asset categories. Through deep industry networks and experience across asset classes, Innovatus acquires or creates assets with a focus on premium and durable income streams.  Innovatus invests through various channels including joint ventures and/or partnerships with industry-leading companies, the creation of de novo entities, and investments in or acquisitions of premium assets and established companies. The unifying theme of Innovatus’ investment strategy is capital preservation, income generation, and upside optionality.  Further information can be found at innovatuscp.com.

About HFF
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

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HFF

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