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| Hunter Henritze |
ATLANTA, GA (June 14,
2016) – Real estate fund manager TerraCap Management, LLC, has acquired
Huntcrest, a four-building, 394,247-square-foot office park in Lawrenceville,
Georgia, for $61.2 million.
The purchase marks
TerraCap’s third acquisition in Georgia this year. The company also owns
several portfolios of office properties and commercial assets totaling nearly 2
million square feet in the state of Florida.
“Huntcrest fits our
investment profile as we feel this property offers upside with strong yields locked
in place with numerous credit tenants,” said Steve Good, a partner at TerraCap. “We see a lot of investment
opportunity in the greater Atlanta area and will continue to seek out
properties that are a natural fit for our portfolio.”
Hunter Henritze
and Matt Davis of Lincoln Property
Company (Lincoln) have been selected to lease and manage the property.
“TerraCap has made a
significant splash in the market since acquiring their first property here
earlier this year,” said Tony Bartlett of Lincoln. “We’re excited to continue
our relationship as they grow their portfolio.”
Located on North Brown
Road, Huntcrest is consistently among the top-performing office parks in the
Sugarloaf micro-market. Samir Idris
with Cushman & Wakefield represented the seller, Blackstone, in the
transaction.
For a complete copy of the company’s news release,
please contact:
Savannah Durban
The Wilbert Group
404-343-0870
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