Chicago, Illinois (PRWEB) April 09, 2014
Singerman Real Estate, LLC (“SRE”) announced its acquisition of the Marketplace at Lake Boone, a 76,025 square foot, mixed-use property in Raleigh, North Carolina.
The Class A property, constructed in 2007, consists of 60% office and 40% retail space and was 88% leased at acquisition to a diverse tenant roster. Marketplace is well-located in the West Raleigh submarket and highly visible on Lake Boone Trail. Its proximity to Raleigh’s inner beltway, Interstate 440, provides superior access to the greater market.
“We are pleased to grow our portfolio in Raleigh with the acquisition of this high-quality asset,” said Kiley Stevenson, Vice President of Acquisitions at Singerman Real Estate. “We are attracted to Raleigh’s long-term growth dynamics, particularly in this location, and strong employment base and plan to remain an active investor in the market.”
SRE also acquired 540 North Distribution Center, a 235,404 square foot industrial property located in North Raleigh in November 2013. The property is currently undergoing a major redevelopment to transform the property into a Class A industrial facility.
About Singerman Real Estate:
Singerman Real Estate, LLC is an opportunistic real estate investment firm that has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies. The principals of SRE have led and sourced direct investments in real estate totaling over $2 billion. Since its formation in 2010, SRE sourced and executed, with partners, over $750 million of investments across all major property types.