{"id":1004706241,"date":"2024-03-14T02:58:43","date_gmt":"2024-03-14T10:58:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004706241"},"modified":"2025-02-18T05:36:31","modified_gmt":"2025-02-18T13:36:31","slug":"vero-capital-jv-lands-recap-for-sun-belt-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vero-capital-jv-lands-recap-for-sun-belt-office-portfolio\/","title":{"rendered":"Vero Capital JV Lands Recap for Sun Belt Office Portfolio"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a30f8e52b146&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004706243\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/vero-capital-jv-lands-recap-for-sun-belt-office-portfolio\/parkway-at-avalon\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/parkway-at-avalon.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"parkway-at-avalon\" data-image-description=\"&lt;p&gt;The office campus at 11720 Amberpark Drive in Alpharetta, Ga.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Parkway at Avalon, one of the recapitalized properties, is 26 miles from downtown Atlanta. Image courtesy of Vero Capital&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/parkway-at-avalon.jpg?w=1000\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/parkway-at-avalon.jpg\" alt=\"The office campus at 11720 Amberpark Drive in Alpharetta, Ga.\" class=\"wp-image-1004706243\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/parkway-at-avalon.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/parkway-at-avalon.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/parkway-at-avalon.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Parkway at Avalon, one of the recapitalized properties, is 26 miles from downtown Atlanta. <em>Image courtesy of Vero Capital<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Vero Capital, formerly known as Admiral Capital Group, along with Prime Finance, have closed on the equity recapitalization of a four-property office portfolio located across the Sun Belt. <\/p>\n\n\n\n<p>The partnership gained access to more than $20 million of immediately available capital for leasing costs and capital improvements. Walker &amp; Dunlop arranged a $108 million CMBS loan originated by Goldman Sachs and Argentic.<\/p>\n\n\n\n<p>The ownership acquired the assets two years ago and signed more than 400,000 square feet in leasing agreements at the properties, also implementing various capex programs. Tenants across the portfolio include Samsung, Kimley-Horn and Associates and BAE Systems.<\/p>\n\n\n\n<p>The almost 1 million-square-foot ensemble is located in Alpharetta, Ga., Plano, Texas, Raleigh, N.C., and Falls Church, Va. The portfolio boasts a weighted average lease term of 4.8 remaining years and a weighted average occupancy of 84.9 percent.<\/p>\n\n\n\n<p>The two-building Parkway at Avalon measuring 197,000 square feet is one of the office assets recapitalized. The 15-acre Alpharetta campus came online between 2000 and 2001 and features a pair of six-story structures with 24,600-square-foot average floorplates and more than 800 parking spaces. Vero Capital acquired the asset from Velocis for $53 million, according to CommercialEdge information, with help from a line of credit originated by Column Financial.<\/p>\n\n\n\n<p>Walker &amp; Dunlop New York Capital Markets Managing Director Sean Reimer, Senior Managing Directors Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz, along with Senior Analyst Christopher de Raet arranged the deal. <\/p>\n\n\n\n<p>Last year, Vero <a href=\"https:\/\/www.commercialsearch.com\/news\/vero-capital-to-launch-29m-revamp-at-phoenix-office-campus\/\">announced the $29 million overhaul<\/a> of a 410,000-square-foot, two-building office complex in Scottsdale, Ariz. The company picked up the value-add property in 2021 from Velocis.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs and Argentic provided a $108 million CMBS loan.<\/p>\n","protected":false},"author":3355,"featured_media":1004706243,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,1586,21825,11,21747,1604,32781,51973,1615],"tags":[33435,39251,39729,44213],"class_list":["post-1004706241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-dallas","category-finance","category-midatlantic","category-office","category-raleigh-durham","category-southeast","category-southwest","category-washington-dc","tag-goldman-sachs","tag-prime-finance-partners","tag-vero","tag-walker-dunlop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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