RALEIGH-DURHAM, NC, January 2, 2017 – B&G Real Estate Investment Management in a joint venture with Priam Capital has announced their purchase of The Arbors – a three building, 211,504 square-foot office portfolio situated within Highwoods Office Center in Raleigh, NC. The Class A buildings are located at 3120, 3128, and 3200 Highwoods Boulevard, and were 99 percent leased at closing. This acquisition marks B&G’s and Priam’s first in the Triangle area.
Cushman & Wakefield’s Capital Markets Teams of Raleigh-Durham and Atlanta arranged the sale on behalf of the Seller – The Simpson Organization / Harbert Management Corporation. Cushman & Wakefield’s Equity, Debt, & Structured Finance Team in Atlanta arranged financing for B&G, and Lincoln Harris Raleigh advised during the due diligence. Cushman & Wakefield Raleigh-Durham Leasing Team has been appointed as the primary leasing agency for the portfolio.
Lincoln Harris team led by David Oddo and Holly Doerner has been appointed as the property managers of the office park.
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