Dilweg Sells 4-Building Raleigh Portfolio to Continental Capital Partners
DURHAM, N.C. (Oct. 10, 2014) – The Dilweg Companies today announced the sale of four office buildings in Raleigh-Durham to Continental Capital Partners, a private real estate investment firm based in Virginia Beach, Va.
The four buildings total 278,050 square feet. Dilweg originally acquired these properties as part of a 12-building portfolio acquisition in August.
The portfolio includes Park Forty Plaza, a 122,311 SF building built in 1986 and located at 1000 Park Forty Plaza Drive; RDU Center II, a 61,616 SF building built in 1998 and located at 3131 RDU Center Drive and NorthPark I and II, 94,123 SF located at 11635 and 11640 North Park Drive and built in 1996 and 2000.
“Continental Capital Partners is going to be a great fit for these buildings,” said Anthony Dilweg, CEO of the Dilweg Companies. “The Raleigh-Durham office investment market has been very strong lately, and we felt this was a good time to exit this portion of the portfolio that we recently acquired.”
“We are very excited about expanding our footprint in Raleigh-Durham,” said Jeremy McLendon, Managing Partner of Continental Capital Partners. “We are very bullish on this market and look forward to repositioning these assets.”
About The Dilweg Companies: The Dilweg Companies is a full-service commercial real estate firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $690 million in asset value and more than 7.3 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 313-3483 or go to www.dilweg.com.
About Continental Capital Partners: Continental Capital Partners (CCP) is a “best-in-class” real estate acquisition, development, and asset management firm based in Virginia Beach, Virginia. Our focus is on providing our investment clients with superior risk adjusted returns on institutional quality office and industrial properties located in our target markets throughout the Mid-Atlantic and Southeastern United States. We provide our tenants and our investors with superior customer service that values integrity, transparency, accountability, collaboration, and a passion for excellence. The principals of CCP have successfully navigated through several real estate cycles and have the skill sets to capitalize in the current market cycle. The company has a highly tenured team that is accessible to their investor clients 24/7. Experience and expertise allow them to make the right investment decisions that will provide solid returns on equity, capital preservation, and intermediate to long term capital appreciation. For more information, please call (757) 689-1822 or go to http://www.continentalcapital.us.