Gibraltar Properties and PK Partners own the 83,697-sf building at 3925 River Crossing Pkwy., which was built last year. The three-story building is next to River Crossing I, as well as a 350-space garage shared by tenants of both buildings.
"River Crossing II offers a solid tenant base with major tenants having an average lease term of 9.25 years, thus minimizing the rollover risk associated with the property during the term of the loan," says Holliday Fenoglio Fowler, L.P. senior managing director David B. Keller in a statement. "This, combined with the Keystone at the Crossing submarket's reputation as the preferred class-A office location, made the transaction appealing to both institutional and private investors."
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