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ROSEVILLE, MN-Stonewater Partners recently closed on a $26-million purchase of the Unisys Building, a 359,540-sf class-B office building at 2470 Highcrest Rd. The Mt. Kisco, NY-based real estate investment firm says the building is entirely leased to Unisys for the next eight years.

The building was one of three that made up the 1-million-sf Highcrest Park. CB Richard Ellis represented the seller, Meritex, in the deal, and is helping lease its other space at Highcrest Park.

David Stade, a Stonewater principal, says the Unisys building is a “high yielding asset and improving credit quality,” adding Unisys has operated out of the building for about 40 years. The Unisys transaction is Stonewater’s second acquisition, bringing total volume to $40 million in the six months since the company’s inception, according to Jeffrey Toporek, also a Stonewater principal. He anticipates an additional $40 million to close by the end of the summer.

RBS Greenwich Capital provided Stonewater a 10-year fixed-rate first mortgage of $20.86 million with a 30-year amortization and 5.2% interest rate.

Meritex is an 88-year-old firm based in St. Paul that owns and manages over 10 million sf in the US, including about 3 million sf operated as third-party logistics space, 6 million sf of leased warehouse and industrial and 1 million sf of leased office space. The company also offers logistics services and other real estate services.

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