RALEIGH, NC-Atlanta-based Brookdale Group has bought Palisades I, a 79,000-square-foot office building in west Raleigh, at an $8.2-million discount. In early November, Brookdale bought the office building from 5400 Trinity Road Holdings LLC, an entity formed and managed by Bethesda, Maryland-based CW Capital Asset Management.
Lichtin Corp. of Raleigh developed Palisades I in 2000. CW Capital Asset Management took control over the property in April after Lichtin, the previous owner, defaulted on property loans. Cassidy Turley's John Kelly brokered the deal for the seller. For the full story, go to Triangle Business Journal .
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