Industrial

TriGate Capital and Equitable Real Estate Partners sell Deerfield Beach Office Portfolio

DALLAS, TEXAS – Dallas-based TriGate Capital, a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies, in conjunction with its partner, Equitable Real Estate Partners, sold Hillsboro Center, a five building, 215,114 square foot multi-tenant, office project on March 15, 2019.

John Mearns, Senior Vice President at TriGate, said: “The $32.5 million sale to local operator Grover Corlew was the culmination of an extensive four-year repositioning. The partnership invested $2.7 million in improvements including the addition of a palm lined entry drive, building exterior updates, re-landscaping and all new interior common area finishes. The improvements led to increased rents and occupancy resulting in a 26% increase in net operating income over the hold period.“

Mike Davis and Scott O’Donnell of Cushman and Wakefield represented the partnership in marketing the property for sale.

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 recapitalizations. Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle

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