BETHESDA, MD–Locally-based Finmarc Management has sold one of the assets in the 26-building portfolio it acquired from First Potomac earlier this year.
The property it just sold is a fully-leased, 54,530-square foot data center located in Chantilly, Va.'s Enterprise Center business park, and it traded for $22.94 million.
Legacy Lafayette LLC is the buyer.
Thomas E. Cleaver III and Rob Faktorow of CBRE represented Finmarc in the transaction.
The company has been selectively disposing of some of the properties in the First Potomac portfolio, which Finmarc acquired for $96 million, redeploying the proceeds into new acquisitions, according to company principal Neil Markus.
He says Finmarc plans to acquire $150 million worth of assets for 1031 exchanges over the next six months.
BETHESDA, MD–Locally-based Finmarc Management has sold one of the assets in the 26-building portfolio it acquired from First Potomac earlier this year.
The property it just sold is a fully-leased, 54,530-square foot data center located in Chantilly, Va.'s Enterprise Center business park, and it traded for $22.94 million.
Legacy Lafayette LLC is the buyer.
Thomas E. Cleaver III and Rob Faktorow of CBRE represented Finmarc in the transaction.
The company has been selectively disposing of some of the properties in the First Potomac portfolio, which Finmarc acquired for $96 million, redeploying the proceeds into new acquisitions, according to company principal Neil Markus.
He says Finmarc plans to acquire $150 million worth of assets for 1031 exchanges over the next six months.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
