TerraCap Management LLC, a privately held investment firm with its headquarters in Estero, Florida, announced today the acquisition of the Denver Tech Center Collection for $28,700,000.
Resource Square IV is a five-story office building, totaling 152,000 rentable square feet and is located in a five-building office park. TerraCap acquired three of the buildings in the park, Resource Square I, II & V, in August. Adding Resource Square IV to the portfolio gives TerraCap the opportunity to increase operating efficiencies and reduce costs between the buildings.
TerraCap Management has sold Keller Center, a 159,840-square-foot office building north of Orlando, Fla., for $27.9 million. The buyer was Susquehanna Holdings, according to GrowthSpotter. The new owner financed the acquisition with a $21.7 million loan with a fixed interest rate and a 30-year amortization period. A CBRE team represented the seller and secured financing for the buyer.
After the $28.1 million sale of a Tampa office property, an affiliate of TerraCap Management has acquired Resource Square I and III, a Class A office portfolio in Orlando, Fla., for $39.2 million. HFF represented the seller, an affiliate of Banyan Street Capital and funds managed by Oaktree Capital Management, in the transaction. The property was sold free and clear of financing.