PFA Pension has formed two joint ventures with Spear Street Capital LLC to acquire a 49 percent stake in two office properties based in Dallas and Jersey City, New Jersey. No financial terms were disclosed. Accord Capital Partners LLC served as financial adviser on the transaction.
SAN FRANCISCO–(BUSINESS WIRE)–An affiliate of PFA Pension announced the completion of two separate joint ventures with affiliates of Spear Street Capital LLC (“Spear Street”) to acquire a 49% interest in approximately 1.2 million square feet of office properties located in Dallas, Texas and Jersey City, New Jersey (the “Invictus Portfolio”). Formerly 100% owned by certain funds managed by Spear Street, the Invictus Portfolio comprises Galatyn Commons, a 796,200-square foot Class A office campus located in Dallas, Texas and 90 Hudson, a 432,000-square foot Class A office building located in Jersey City, New Jersey.
Spear Street will continue to serve as the manager of the Invictus Portfolio on behalf of the two joint ventures. Terms of the transaction were not disclosed.
Accord Capital Partners LLC served as the exclusive financial advisor in connection with this transaction.
ABOUT PFA PENSION
PFA Pension was founded in 1917 as an independent company by a number of labor organizations, with the sole purpose of ensuring a financially secure future for the employees and their families. Today, PFA has approximately 1.2 million individual customers from a wide range of the largest companies and organizations in Denmark. For further information on PFA, visit: www.english.pfa.dk
ABOUT ACCORD CAPITAL PARTNERS LLC
With headquarters in San Francisco and additional offices in Chicago and London, Accord Group Holdings LLC (“Accord”) harnesses a powerful combination of capital markets, investment management and principal investment capabilities for a wide variety of participants in the real estate private equity industry globally. Through Accord Capital Partners LLC, its broker/dealer affiliate in the United States, Accord provides advisory and capital raising services to its clients. For further information on Accord, visit: www.accord-group.net