Date of Acquisition
November 2017

Scope of Transaction
$30.2 million

Size of Property
211,500 SQF

Funding
65%

Equity
$10.6 million

Investment by Brightman-Gil
$10.6 million / 100% of the equity
THE ARBORS
Raleigh, NC

The Arbors, an office park in Raleigh, North Carolina, enjoys a 98% occupancy rate. The deal combines a high yield of 8-9% cash return in the coming years and has upside potential given that the current rental fees are relatively low.

The tenant mix is diversified and stable. There is a long-term lease (until 2015) for 45% of the property to the North Carolina Treasury Department. In addition, another 15 top-notch companies rent space in The Arbors. The average lease is six years.

There is an upside to be realized upon lease renewals, as the property's average rent is $20.2/SF and comparative properties in the vicinity charge $22-$26/SF.

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Transaction Details

10/2017
Acquisition

$30.2M
Scope

211,500
SQF

65%
Funding

$10.6M
Equity

$10.6M
B&G Invested