CapRocq Core 2, an Arkansas-based real estate partnership focused on investing in real estate assets in the South and Midwest, has announced its three newest investments: the Titan Office Building in Greensboro, North Carolina; 855 Grandview Ave. in Columbus, Ohio; and Mission Towers in Mission, Kansas.
Previous investments by the fund include Village on the Creeks in Rogers; Regency Executive Park in Charlotte, North Carolina; the Webster University building in Columbia, South Carolina; The Mulberry building at Godley Station in Savannah, Georgia; and, North Park II in Omaha, Nebraska.
The latest transactions bring the total CapRocq Core 2 portfolio size to more than 1 million square feet and more than $100 million in total assets.
“These new investments continue our strategy of purchasing well-located properties that have strong occupancy,” Franklin McLarty, CapRocq co-founder, said. “Our first and foremost priority is to invest our funds wisely, and these purchases are a perfect example of that strategy.”
“These properties represent three new markets for the fund,” Kevin Huchingson, co-founder of CapRocq, said. “Each market enjoys a healthy economy and we plan to continue to build our portfolio in these target markets as well as the markets where we have already located.”
The general partners of CapRocq Core 2 have now secured approximately $50 million in equity from Arkansas individuals and institutions. Combined with CapRocq Core, total equity now exceeds $106.1 million.
In addition to McLarty and Huchingson, other CapRocq Core 2 partners include Dewitt Smith, Isaac Smith, Ted Dickey and Mark Saviers.
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About the Properties
Titan Office Building, located at 7900 Triad Center Drive in Greensboro, includes 87,387 total square feet and was purchased for $7.25 million. The building is home to several well-recognized tenants including OnePath Systems, First Carolina Corporate Credit Union and Cisco Systems, and is strategically located between the Greensboro, High Point and Winston-Salem business districts. The transaction closed Dec. 28, 2015.
855 Grandview Ave. in Columbus was purchased for $9 million and includes 77,229 square feet of office space and 30,454 square feet of warehouse space. Built in 2004, the building is located in central Ohio with more than 300,000 residents within a five-mile radius and just minutes from downtown with easy access to area interstates. The transaction closed Dec. 11, 2015.
Mission Towers, located at 5700 Broadmoor St. in Mission, Kansas, closed Nov. 13, 2015. The property features approximately 186,010 total square feet. The 10-story building was purchased for $10.75 million and is located in the heart of the city of Mission’s redevelopment plan with easy access to nearby Kansas City, South Johnson County and Kansas City International Airport.
Photo: 855 Grandview Ave. in Columbus, Ohio. Image credit
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