Velocis Purchases Loudoun Gateway II & IIIAugust 6, 2015
Washington, DC – (Aug. 6, 2015) – Velocis, a private equity real estate manager, today announced the purchase of two Class-A suburban office buildings located in the upscale Washington, D.C. suburb of Sterling, Virginia in Loudoun Gateway Business Park. The assets, Loudoun Gateway II & III, total 179,864 square feet and are adjacent to Dulles International Airport.
“Loudon Gateway II & III are solid assets located in an exceptional business park in the recovering Northern Virginia market,” said Paul Smith, Velocis principal. “The two buildings provide tenants strong security infrastructure, proximity to the airport and major area government employers, as well as easy access to the new Silver Line rail extension and amenities, scheduled for completion in 2018.”
The two high-quality, interconnected buildings are currently over 90 percent leased by a select group of companies representing some of the premier government contractors in the area. The seller was represented by Chip Ryan of Avison Young. The property will be managed by DTZ and leasing services will be provided by Moore & Associates.
Dallas-based Velocis, has been active in real estate investment since 2011, purchasing 17 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona and North Carolina. Velocis is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets.
Joining Paul Smith as principals in Fund II are Fred Hamm, Mike Lewis, Jim Yoder and David Seifert.
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at https://www.velocis.com/.
Past performance does not predict future results. This article does not constitute an offer to sell, or a solicitation of any offer to buy any securities of the Fund, nor is it intended to be a description of all material factors an investor should consider before investing in the Fund. Prior to making an investment decision, prospective investors should carefully review the offering documents of the Fund for a description of material factors to consider, including risk factors and investor suitability requirements.