The acquisitions were funded through a combination of debt financing and an over-subscribed private placement offering that raised gross proceeds of approximately $65 million. Comdata, which is a part of FLEETCOR Technologies, is an anchor tenant operating with a long-term. The fully leased 199,194-square-foot building recently underwent a multi-million-dollar renovation of the lobby, elevators and common areas. The second property, Bridge Crossing, is a three-story, Class A office building located in Brentwood, Tennessee that was purchased for $46 million. The building is headquarters for Gogo Business Aviation, the leading inflight internet and entertainment provider. The $59.1 million property is certified LEED Platinum and boasts hyper-efficient floorplates and high-efficiency solar panels that produce approximately 10% of the building's electrical power needs and dramatically improve energy savings. "The strategic addition of two quality assets in some of the country's strongest markets reinforces our approach and drive to pursue long-term value that will support KORE's growth and strengthen distributions to unitholders."ġ05 Edgeview, is a Class A, 186,231-square-foot office building located at the southeast entrance of the technology-centric Interlocken Business Park, one of the most dynamic submarkets in the Denver-Metro area. "Nashville and Denver are key growth markets with positive economic and office fundamentals, as well as significant tech investments," said Jeff Rader, executive vice president of Pacific Oak Capital Advisors. The properties were acquired for $105.1 million in two separate transactions and bring the REIT's portfolio to 15 office buildings and business campuses across nine key growth markets. 7, 2021 /PRNewswire/ - Pacific Oak Capital Advisors, LLC, the asset manager for Keppel Pacific Oak US REIT (KORE), an office REIT listed on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST), announced today the acquisition of two fully leased office properties in Nashville and Denver.
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