Raleigh medical office buildings soldMarch 19, 2014
The Texas private equity fund Velocis Fund has bought two medical office buildings near Rex Hospital in Raleigh for nearly $5 million.
Velocis acquired the Sunset One and Sunset Two office buildings on Sunset Ridge Road from a local real estate investment group, JDL Investments LLC, led by Rick Polm of Cary. The buildings have a combined 36,000 square feet and were 82 percent leased at the time of the deal to several local physician practices.
The deal was the first in North Carolina for Velocis Fund, which was formed in 2010. It also owns real estate properties in Texas, Colorado, Florida and Georgia.
Gary Lyon and Michael Vulpis of Avision Young in Raleigh represented the seller in the deal. The Lincoln Harris real estate firm will take over leasing and management of the properties.