Southeast Capital Markets Group Represents Seller in Portfolio Disposition
RALEIGH-DURHAM, NC, December 3, 2018 – Cushman & Wakefield today announced the sale of Carlisle Place and Stratford Hall within Imperial Center in Durham, North Carolina. Cushman & Wakefield’s Southeast Regional Investment Sales Group, represented the seller, Bridge Investment Group, in the transaction of the two Class A office assets totaling 197,000 square feet.
OA Development, Inc. acquired the buildings, adding to its existing holdings within Imperial Center. The two Class A buildings were 85 percent leased at closing to major tenants including Bioventus and Accord Healthcare.
Cushman & Wakefield’s Equity, Debt, & Structured Finance Team in Atlanta arranged financing for OA Development, Inc. and Cushman & Wakefield’s Raleigh-Durham Landlord Agency Leasing Team has been appointed as the primary leasing agency for the portfolio.
About Bridge Investment Group
Bridge Investment Group is a privately held real estate investment management firm with $12 billion in assets under management. Bridge combines its 1,100-person, nationwide operating platform with specialized teams of investment professionals focused on select US real estate verticals, which Bridge believes offer above-market opportunity: Multifamily, Office, Seniors Housing, Affordable Housing and Debt Strategies.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About OA Development, Inc.
OA Development brings a unique way of looking at the marketplace that delivers consistent returns to investors. That is why OA Development’s clients have trusted the firm’s insights since 1993. OA Development’s long-time leadership possesses the experience, expertise, and orientation to protect and grow investors’ assets in the rapidly changing commercial real estate market. Such foresight has helped the firm remain ahead of the market at each turn and produce an enviable track record. www.OADevelopment.com