TriGate Capital and Campanelli joint venture acquires One and Two Adams Place, two office buildings in Quincy, MA
DALLAS, TEXAS – TriGate Capital, in a joint venture with Campanelli, has acquired One and Two Adams Place, a 230,259 square foot, multi-story, two-building class A office complex in Quincy, MA. The buildings are well located at the Braintree Split, the intersection of Route 3 and Interstate 93, and represent another key addition to the TriGate/Campanelli office portfolio.
TriGate’s Vice President Adam Aultz further commented, “The acquisition represents the twelfth investment TriGate and Campanelli have completed together since 2010, which spans over 2.5 million square feet of office properties in and around Boston. We are excited to grow our current portfolio with Campanelli, and these two buildings fit in nicely with our strategy. Given the smaller tenant sizes at the two buildings, Campanelli’s ability to deliver turnkey tenant space will make a difference in a market where tenants often need space quickly.”
Doug Jacoby and Scott Dragos of Colliers International marketed the property for sale. Tyler McGrail and Mike Frisoli of Newmark Knight Frank will lease the property for partnership.
About TriGate Capital
TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has completed investments throughout the United States.
TriGate manages three fully discretionary real estate funds, TriGate Property Partners, LP (Fund I), TriGate Property Partners II, LP (Fund II) and TriGate Property Partners III, L.P. (Fund III), which are the vehicles through which TriGate conducts its investment strategy. Fund I and Fund II are fully invested and Fund III is presently in its investment period. TriGate purchased this asset through its current investment vehicle – TriGate Property Partners III, LLC – which closed fundraising in 2016 with $340 million of equity commitments.
TriGate’s team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization. Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle.