Saturday, April 1, 2017

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

Keystone 200 and 300, Keystone Office Park, Durham, NC

Scot Humphrey
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (“HFF”) announced 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. K
eystone 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.

Ryan Clutter
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.”

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 |

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