Arch Street Capital Advisors has acquired four office buildings in the Minneapolis/St. Paul market. The seller of the portfolio was Ladder Capital. No financial terms were disclosed. The portfolio has served as the headquarters for four state agencies since the mid-1980s.
GREENWICH, Conn., Oct. 22, 2018 /PRNewswire/ — Arch Street Capital Advisors, LLC, a real estate investment advisory firm, announced the acquisition of the Lafayette Park Office Campus (“Portfolio”) located in the Minneapolis / St. Paul MSA, on behalf of an institutional client, acquiring the Portfolio from Ladder Capital, a New York based real estate investment trust, as the seller. The Portfolio acquisition consists of four buildings which total to 677,514 SF of office space and is 100% leased to the State of Minnesota (“Tenant”) on a long-term basis. Strategically located proximate to the Minnesota State Capitol complex, the Portfolio has served as the headquarters for four state agencies since the mid-1980’s.
“We are pleased to enter the Minneapolis/St. Paul office market with the purchase of a high-quality, fully-leased Portfolio like Lafayette Park” said Damian Taylor, Senior Vice President at Arch Street Capital Advisors. “We continue to seek quality long-term, single-tenant, net lease office assets on behalf of our institutional clients.”
About Arch Street Capital:
Arch Street Capital Advisors, L.L.C. is a full service real estate investment advisory firm. Arch Street specializes in assisting investors with their U.S. real estate strategies including acquisition and joint venture advisory, financing advisory, and asset management and disposition services. Since 2003, Arch Street has advised clients on more than $6.5 billion of acquisitions, dispositions and financings. Arch Street manages, on behalf of its clients, a diverse portfolio of investments in the industrial, office, multi-family, single-family, hospitality, retail, health care, student housing, land entitlement and development sectors of the U.S. real estate market. For more information visit: www.archstreetcapital.com
About Ladder Capital:
Ladder Capital (NYSE: LADR) is an internally-managed real estate investment trust and a leader in commercial real estate finance. Ladder originates first mortgage loans secured by commercial real estate, makes investments in investment-grade securities secured by first mortgage loans on commercial real estate; and invests in net leased and other commercial real estate equity. Founded in 2008, Ladder is run by a highly experienced management team with extensive expertise in all aspects of commercial real estate, including origination, credit, underwriting, structuring, capital markets and asset management. Ladder is headquartered in New York City, with a West Coast office in Santa Monica, CA. For more information please visit www.laddercapital.com