Starwood Capital JV acquires 650 KSF office campus
The company has teamed up with Trinity Capital Advisors and Vanderbilt Partners to acquire and renovate Park Point at Research Triangle Park in Raleigh, North Carolina.
An affiliate of Starwood Capital Group and its partners Trinity Capital Advisors and Vanderbilt Partners have acquired Park Point at Research Triangle Park in Raleigh, North Carolina. They are planning a major redevelopment of the site into creative office space.
The ownership group plans to spend more than $100 million to renovate and reposition the 645,000 square foot property on the 95 acre site. The owners say it will be one of the only true creative office options in Research Triangle Park. Renovations will begin immediately, with tenants able to occupy the space as early as the second quarter of 2020.
Fulya Altunyay/[email protected]