Friday, August 12, 2016

HFF closes $31.7 million sale of 2 Class A office properties in Raleigh-Durham, NC

Nottingham Hall,  4505 Emperor Boulevard, Raleigh-Durham, NC

CHARLOTTE, NC – Aug. 12, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $31.7 million sale of Nottingham Hall and Palisades I, two Class A office properties totaling 184,302 square feet in Raleigh-Durham, North Carolina.

Palisades I, Raleigh-Durham, NC
HFF marketed the properties on behalf of the seller, an institutional fund manager, and procured the buyer, CapRidge Partners.  

This closing follows the previously announced sale of Trinity Place, which was also marketed on behalf of the seller to Origin Investments. 

Additionally, HFF’s debt placement team assisted CapRidge Partners in sourcing a loan for Nottingham Hall and Palisades I, as well as for Palisades II, which CapRidge is purchasing in a separate transaction. 

Nottingham Hall is located at 4505 Emperor Boulevard near the Interstate 40 and 540 interchange in the I-40/Research Triangle Park submarket. 

The property is situated on eight acres in the Imperial Center business park that is within five miles of RDU International Airport and approximately midway between Raleigh and Durham’s central business districts.

Scot Humphrey
  Palisades I is situated on 3.8 acres at 5400 Trinity Road approximately 11.5 miles southeast of Nottingham Hall via Interstate 40 in the West Raleigh submarket. 

The property is adjacent to Carter-Finley Stadium and the PNC Arena, home to the Carolina Hurricanes NHL hockey team and the North Carolina State University basketball team.  Both properties were completed in 2001.

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

HFF’s debt placement team, led by director Jim Curtin, senior managing directors Travis Anderson and Andy Scott and associate director Cory Fowler, advised CapRidge in the financing of these assets.

“Nottingham Hall and Palisades I are two exceptional assets in key locations in the Raleigh-Durham market,” said Clutter.  “These assets received significant interest from the marketplace as investors were attracted to the near- and long-term potential of these buildings.”

“We continue to see strong interest in our Raleigh-Durham offerings while new and emerging capital continues to target this thriving market,” added Clutter.

 “This sale represents CapRidge’s first entry into the Raleigh-Durham market serving as a prime example of how the area’s healthy fundamentals continue to attract new investors to the region,” continued Humphrey.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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