TriGate Capital Joint Venture Sells Office Portfolio in Western Chicago
DALLAS, TEXAS – A joint-venture between TriGate Capital and Pearlmark Real Estate has sold Naperville Corporate Center – a 420,540 square foot portfolio of 4 office buildings – in Naperville IL for $37.73 million to an institutional buyer.
TriGate’s Senior Vice President, Paul Sharp, commented, “The joint-venture increased occupancy from 60% to 84% and the visibility and proximity to amenities helped drive the successful disposition of this dominant suburban office park.”
TriGate would like to thank Patrick Shields and Jaime Fink of HFF who brokered the sale on behalf of the joint-venture.
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’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.
Pearlmark Real Estate, LLC and Pearlmark Investment Company, LLC collectively operating under the “Pearlmark” banner, form a private equity investment organization, including a registered investment advisor, specializing in commercial real estate. Since its inception as Transwestern Investment Company in 1996, Pearlmark has acquired interests in more than 500 office, retail, industrial and multifamily properties, representing a gross investment of over $12 billion. The firm sponsors investment funds and separately managed accounts with a focus on U.S. value-add real estate investing.