Turnbridge Equities and its joint venture partner Fundamental Advisors LP sold their five-building, 860,000 square foot Northern Virginia Cybersecurity and Defense Infrastructure portfolio for $220 million.

Turnbridge and Fundamental began assembling the portfolio in 2018 to mitigate the rollover risk related to single-tenant occupancy by creating a multi-tenant portfolio with staggered lease terms and diversified tenancy. The joint venture acquired each of the five buildings in separate transactions and renewed each of the expiring leases at accretive terms throughout its ownership of the portfolio. Serving as corporate and division headquarters for multiple tenants, the portfolio provides functionality for sensitive defense and national security work that its tenants complete on behalf of their clients.

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David Hoffman



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