Arlington, VA – October 15, 2012 – The FD Stonewater/Roseview Fund has purchased three properties, each 100% leased to the Federal Government. In Nashville, Tennessee the Fund purchased a United States Military Entrance Processing Command facility from the original developer with equity from the Fund and financing provided by Avenue Bank of Nashville.
Separately, two Customs and Border Patrol facilities located in Jacksonville and Riviera Beach, Florida were purchased as a portfolio from the original developer using Fund equity, and the assumption of the existing loans. Each of the three facilities had less than five years remaining on a government lease, one of the Fund’s defining acquisition target criteria. David Stade, a Principal at FD Stonewater and co-manager of the Fund, commented, “Each of these assets is integral to the overall mission of the Federal agency occupying, creating a high likelihood of renewal. The staggered rollover and geographic diversity provide a solid foundation for the Fund’s first acquisitions.” Jeffrey Toporek, also a Principal at FD Stonewater who co-manages the Fund with Mr. Stade, further commented, “With these transactions, we have invested 20% of our capital allocation for the first Fund in the series. The Fund has significant capital to continue expanding the portfolio for both existing building acquisitions and GSA development opportunities.”
About FD Stonewater
FD Stonewater is a boutique real estate brokerage, investment, development and advisory firm with offices in New York, Los Angeles and Washington, DC. Collectively, the firm’s leadership possesses a track record of more than $10 billion in investment and acquisitions and over 40 million square feet of GSA/Federal leasing.
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