(To read more on the debt and equity markets, click here.)

NORCROSS, GA-Irvine, CA-based Sperry Van Ness Equities will acquire the 11-building Oakwood portfolio with just over $33.2 million in financing from Chicago-based Wrightwood Capital.

The portfolio consists of three sites on approximately 50 acres, including Oakbrook Center, Oakbrook Tech Center and the Oakbrook Research Center. The properties include nine single-story flex buildings, a one-story office building and a two-story office building. The buildings range in size from 28,947 to 101,724 sf. The property is located within two miles of Interstate 285, which surrounds the Metropolitan Atlanta area.

Sperry Van Ness Equities intends to make capital improvements to the space and begin an aggressive marketing campaign. Sperry currently manages or owns more than 26 office and industrial properties. “Given this level of experience, the demand in the Atlanta market for this type of project in this location and their previous project success, we felt that the Oakbrook portfolio business plan was well positioned as well,” says Wrightwood Capital eastern regional director Frank Sullivan in a prepared statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.