PRC HELPS PLACE ACQUISITION FINANCING FOR USFS OFFICE BUILDINGS IN ALBUQUERQUE, NEW MEXICO
WASHINGTON, D.C. – November 2, 2011 – Perseus Realty Capital, LLC (PRC), a real estate investment bank, announced that it helped place a $17.5 million financing for the acquisition of the US Forest Service Buildings located in Albuquerque, New Mexico.
PRC Director, Lindsay Stroud, worked on behalf of the borrower, Easterly Partners Real Estate Advisors, LLC, in helping arrange a 15 year permanent financing.
The properties are part of the USFS Albuquerque Service Center (ASC), consisting of two single-tenant office buildings located in the Journal Center Business Park, at 3900 and 4000 Masthead Street NE, Albuquerque, New Mexico. Built in two phases, these buildings serve as the national administrative headquarters for the USFS, housing human resources, budget and finance, acquisition management, civil rights, and computers and technology departments. The ASC provides services for over 34,000 USFS employees across the United States.
“The Masthead properties represent what many buyers and lenders are looking for in today’s market, long term leased assets to credit type tenants with strong annual cash flow and optimal debt service coverage” said Stroud.
About Easterly Partners Real Estate Advisors, LLC
Easterly Partners is a privately-held management firm headquartered in Washington, DC with offices in New York and Boston. The firm’s strategy aims to provide investors with value-added returns with a core risk profile.
Easterly Partners is managed by an experienced team of real estate and investment professionals with extensive experience navigating both up and down economic real estate cycles. The team has expertise in acquisitions, dispositions, market research, asset management, capital markets, and financing.
The firm’s professionals average over 20 years of experience in the real estate sector and have deep relationships throughout the industry, which provides meaningful leverage for investors. Collectively, the investment team has participated in over 171 transactions valued in excess of $6.5 billion.