OAKLAND, CA-Tiburon Capital sold the205,000-square-foot Edgewater Park Plaza “essentially because debtwas coming due,” according to a source close to the deal. PolidevInternational LLC purchased the four-building office park for $12million.
Golubchik, a vice president of the private capitalmarkets group, along with Seth McKinnon, a vice president of theprivate capital markets group, and Edward Suharski, executive vicepresident of the institutional capital markets group, at Grubb& Ellis Co. represented both parties in the transaction.Christopher Johnke, senior vice president, and Cale Miller, seniorassociate, also assisted the buyer in the transaction. DavidChristensen, senior vice president of Grubb & Ellis’ debt andequity finance group, handled the financing.
According to Golubchik, this was “an excellent acquisitionopportunity for a value-add investor with a long-term holdstrategy.” He points point out that “It was extremely rewarding tofacilitate the sale amidst today’s commercial real estateenvironment and we are pleased to have completed it on behalf ofour clients.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.