TerraCap Management Expands Reach into Lawrenceville, Georgia, with $61.2 Million Purchase of Huntcrest Office Park
Real estate fund manager TerraCap Management, LLC, has acquired Huntcrest, a four-building, 394,247-square-foot office park in Lawrenceville, Georgia, for $61.2 million. The purchase marks TerraCap’s third acquisition in Georgia this year. The company also owns several portfolios of office properties and commercial assets totaling nearly 2 million square feet in the state of Florida.
“Huntcrest fits our investment profile as we feel this property offers upside with strong yields locked in place with numerous credit tenants,” said Steve Good, a partner at TerraCap. “We see a lot of investment opportunity in the greater Atlanta area and will continue to seek out properties that are a natural fit for our portfolio.”
Hunter Henritze and Matt Davis of Lincoln Property Company (Lincoln) have been selected to lease and manage the property.
“TerraCap has made a significant splash in the market since acquiring their first property here earlier this year,” said Tony Bartlett of Lincoln. “We’re excited to continue our relationship as they grow their portfolio.”
Located on North Brown Road, Huntcrest is consistently among the top-performing office parks in the Sugarloaf micro-market. Samir Idris with Cushman & Wakefield represented the seller, Blackstone, in the transaction.