STERLING, VA—The Pinkard Group of Bethesda and Buchanan Partners of Gaithersburg have partnered with AEW Capital Management to acquire Lakeside II @ Loudoun Tech Center. It is the second acquisition for this group of partners, which first banned together to acquire Lakeside III @ Loudoun Tech Center from a special servicer last year for $12.4 million.
Pricing was not disclosed for this latest purchase.
In addition Pinkard Group partnered with Principal Real Estate Investors last year to buy Dulles Metro Center for $47.1 million.
Lakeside II is a four-story building located at 21345 Ridgetop Circle. AEW has invested in the property on behalf of AEW Partners VII, L.P., the seventh in the company's opportunistic fund series.
The 102,000-square-foot building is one of three buildings on the 30-acre campus originally developed by a partnership of Buchanan Partners and Tishman Speyer in 2001.
"Lakeside II is one of the last remaining large blocks of A space in the 28 North market," said Bob Pinkard, principal of The Pinkard Group. "Our purchase price allows us to deliver a high quality environment at affordable pricing."
Pinkard was not able to speak with GlobeSt.com prior to publication.
The property was purchased from LNR through the auction.com online platform.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
