Velocis Sells Sunset One & Two Medical Plaza in Raleigh, N. C.August 22, 2018
Pair of medical office buildings located within the Research Triangle Region
Raleigh, N. C. – (Aug. 22, 2018) – Velocis, a private equity real estate manager, has sold Sunset One & Two, a pair of medical office buildings totaling more than 36,000 square feet in Raleigh, N.C. A subsidiary of Health Trust of America (NYSE: HTA) purchased the property for an undisclosed price.
“When we purchased Sunset One & Two, we saw a great opportunity to invest in medical office buildings that were located in a highly-sought after market, only a few blocks from a premier hospital and in the Research Triangle Region,” said Jim Yoder, partner, Velocis. “Our goals with these properties were to use Velocis’ leasing and management expertise to add value to this asset and maintain a strong, stable occupancy rate, which we were able to accomplish.”
Sunset One (3909 Sunset Ridge Road) totals 14,765 square feet, and Sunset Two (3921 Sunset Ridge) totals 21,332 square feet. Located within the Research Triangle Region, the property offers tenants easy access to UNC Rex Healthcare Hospital, the Blue Ridge corridor and West Raleigh submarket. Velocis purchased the property in 2014 and made renovations to common areas, lobbies and restrooms of both buildings.
Trinity Partners Investment Sales Directors Mark Alviano, Dunn Mileham, and David Morris represented Velocis in the transaction. Trinity Partners’ leasing and management team of Esther Austin, Eve Pilkington, and Carrie Karcher generated strong leasing momentum, with four new tenants and two lease renewals in the last eighteen months
“There has been a lot of attention on the West Raleigh office submarket from investors, and certainly the underlying fundamentals support this superior demand for quality investment opportunities,” said Mark Alviano, Director, Investment Sales for Trinity Partners.
Dallas-based Velocis has been active in real estate investment since 2011, purchasing 28 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona, Virginia, North Carolina, and the Washington, D.C. corridor. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Partners in Fund II are Fred Hamm, Mike Lewis, David Seifert, Paul Smith and Jim Yoder.
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 velocis.com.
This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment.