Contact:
Jill Swartz of Triple Net Properties, LLC
714-667-8252, ext. 251
jswartz@1031nnn.com
SANTA ANA, Calif., Aug. 21 /PRNewswire/ — Chief Investment Officer Jeff Hanson announced today that Triple Net Properties, LLC has acquired Riverwood Place on behalf of tenant-in-common investors. The acquisition closed on August 17, 2007.
Riverwood Place consists of two Class A office buildings in the Milwaukee suburb of Pewaukee, Wisconsin. Situated on nearly 17 acres in the Riverwood Office Park, One and Two Riverwood Place are able to accommodate tenants specializing in the healthcare and computer-service industries. Completed in 1999 and 2001, the property offers tenants convenient access to Interstate 94 and Route 164. Riverwood Place is currently 93 percent occupied by several nationally recognized companies, including the Microsoft Corporation, Humana Wisconsin Health Organization Insurance Corporation, and Cisco Systems, Inc.
Triple Net Properties purchased Riverwood Place from Transwestern Great Lakes, L.P., which was represented by Jamie Fink of Holiday Fenoglio Fowler. Financing was provided by Wachovia Bank, National Association.
Triple Net Properties, LLC is a wholly-owned subsidiary of NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm. Triple Net Properties, LLC and affiliates manage a growing portfolio of more than 37 million square feet of real estate, including approximately 9,000 apartment units, with a combined market value in excess of $5.1 billion. Triple Net Properties, LLC and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investments, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, real estate investment trusts (REITs), value added property funds, and institutional investments.
