Crocker Partners and PCCP LLC have acquired Resource Square I & II, two fully occupied buildings in Orlando’s Central Florida Research Park. No financial terms were disclosed.
BOCA RATON, Fla., Jan. 13, 2020 /PRNewswire/ — Crocker Partners has announced the acquisition of Resource Square I & III – two fully occupied buildings in Orlando’s Central Florida Research Park – in a joint venture with PCCP, LLC.
“The quality tenancy and outstanding institutional assets made this an obvious acquisition for us,” said Angelo Bianco, Managing Partner of Crocker Partners. “We have been strong believers of the Orlando market for nearly 30 years and are excited for the opportunity to add these assets to our growing Central Florida portfolio.”
Recent Crocker activities in the Orlando region, which has had the nation’s fastest growing job market for the last four years, include the sale of University Office Park in 2019, after completing an extensive renovation, and the acquisition of Northpoint Center in Lake Mary in 2018. These efforts were led by Josh Edwards, Senior Vice President at Crocker, who oversees the North and Central Florida markets.
Totaling approximately 245,000 square feet, Research Square I & III are adjacent to the University of Central Florida (UCF) in the Research Park, the largest research park in the state. The buildings are minutes away from Waterford Lakes Town Center – 1.9 million square feet of retail and restaurant amenities – and offer direct expressway access to downtown Orlando and the Orlando International Airport.
ABOUT CROCKER PARTNERS
Active in the commercial real estate business for over 35 years, Crocker Partners has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, Crocker Partners has acquired and managed over 157 properties, totaling 47 million square feet and representing $5.6 billion invested. They are currently Florida’s largest office landlord and the 39th largest office owner in the country. Headquartered in Boca Raton, Florida, Crocker Partners has regional offices in Miami, Jacksonville and Atlanta.
About PCCP, LLC
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $10.6 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 21-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $21.8 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.