TriGate Capital, with partner LRC Properties, purchases two building office portfolio in Jacksonville, Florida
DALLAS, TEXAS – TriGate Capital and LRC Properties formed a new joint venture and recently completed the acquisition of a two-building office portfolio. The portfolio comprises 223,405 square feet of well-located office space in the Butler/Baymeadows submarket of Jacksonville, Florida.
TriGate’s Vice President, Adam Aultz, commented, “TriGate has been actively seeking more investment opportunities in Jacksonville, and we are excited to grow our portfolio in the market. We like the current market fundamentals and are eager to execute our business plan. Our Partnership has plans for a comprehensive renovation once McKesson vacates to their new build to suit within the submarket, and we will actively market to both large and small users.”
Jim Sebesta of Newmark Grubb ǀ Phoenix Realty Group marketed the property on behalf of the seller.
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.