In a featured article in Real Estate Capital USA, Ben Adams discusses the firm’s recent transactions in Florida and the current real estate dealmaking environment. He explains the firm’s continued commitment to its margin-of-safety philosophy and the impact of rising rates on real estate deals. The full article can be read here (subscription required)
Ten Capital Management’s purchase of Bayview Corporate Tower in Fort Lauderdale was one of South Florida’s largest office sales transactions https://therealdeal.com/miami/2020/12/16/here-are-south-floridas-largest-office-sales-of-2020/?utm_source=internal&utm_medium=widget&utm_campaign=feature_posts
In an article in the September 7th issue of Pensions & Investments titled Managers assess portfolios after shift to suburbs, Ben Adams talks about how COVID-19 has accelerated the demographic trend that was already underway of people moving to the suburbs from cities. In the article, Ben stated, “We have long believed in the structural demographic shift to the exurbs and suburbs.” He notes more members of Generation X and millennials are expected to have families and move to the suburbs and secondary markets for a lower cost of living as they look to have families and higher quality of life. Although he adds, “Still, the excitement and convenience of big cities cannot be dismissed.” Subscribers can access the full article here
Ten Capital Management has acquired 200 North Water, an office building in King of Prussia, Pennsylvania. No financial terms were disclosed. To read the full article, click here.
The 164,360-square-foot building is currently 85% leased to 17 high quality tenants at below market rents. The property has undergone $4.2 million in exterior building upgrades, site work upgrades and interior improvements over the past two years To read the full article, click here.
The Cleveland-based privately-held real estate investment management firm, is the new owner of the 417,513-square-foot complex that is currently 87% leased to nine tenants with a weighted average lease term of five to seven years. To read the full article, click here.
The Class A building, which comprises more than 250,000 square feet, was 97 percent leased at the time of sale to four tenants, including Cushman & Wakefield. To read full article, click here.
Cleveland-based Ten Capital Management (TCM) has completed the acquisition of 575 Maryville Centre Dr in the St. Louis suburb of Town and Country, MO. Terms weren’t disclosed; 575 Maryville is a 258,441-square-foot Class A office building that is 97% leased. To read full article, click here.
Ten Capital Management (TCM) has acquired 575 Maryville, a Class A office building in Town and Country, a suburb of St. Louis. The 258,441-square-foot building includes a fitness center, two conference rooms, on-site dining and parking. The property is currently 97 percent leased to four tenants, including anchor Cushman & Wakefield. Neither the seller nor the sales price was disclosed. To read full article, click here.
WTAE ABC News 4: A Chicago developer is buying the Miracle Mile Shopping Center, a property that has seen growth in recent years and is nearly 100 percent occupied. Ten Capital Management, a Cleveland-based real estate investment management firm, announced the sale to M&J Wilkow on Monday. To read full article, click here.