Velocis, a Dallas-based private equity real estate fund, purchased two medical office buildings near Rex Hospital in the Research Triangle for nearly $5 million. Sunset One and Sunset Two, the two office buildings on Sunset Ridge Road, were purchased from JDL Investments LLC; terms of the deal were not disclosed. The properties have a combined 36,000 square feet of space and were 82% leased at the time of sale.
"These medical office buildings are located in a highly sought after market, minutes from a premier hospital," said Jim Yoder, Velocis principal and co-founder. "We anticipate that by leveraging Velocis' leasing and management expertise we can add considerable value to this asset and maintain a strong, stable occupancy rate. We have implemented similar models with previous assets we purchased and sold and are confident this asset will also provide good returns for our investors."
Yoder also said that the fund, which has made 14 acquisitions since its founding four years ago, is actively looking to acquire more assets in North Carolina. "We've actually got a couple other offers out on properties in the Triangle," Yoder said.
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