Dominion Realty Partners acquires 180,234 SF office portfolio in Columbia
November 4, 2019
Dominion Realty Partners (DRP) announces the purchase of three buildings in the Synergy Business Park. The 180,234 square foot Office Portfolio is in the highly regarded St. Andrews sub-market of Columbia, SC. This acquisition adds to DRP’s existing 316,000 square foot office portfolio it acquired in 2018, totaling over 496,000 square feet of office combined in the market. DRP plans to make significant investments in building renovations and capital improvement projects to enhance the overall appeal and marketability of the buildings.
DRP is partnering with Blue Vista Capital Management on the acquisition. The two groups have completed several joint-ventures in various markets across the Carolinas and Virginia.
With this acquisition, DRP’s office portfolio now grows to include 2.65 million square feet across 29 office properties throughout North & South Carolina and Virginia. Two of the more recent and notable developments in that portfolio include the 29-story FNB Tower, a $130M mixed-use, apartment and office tower located between BB&T Ballpark and Bank of America Stadium in Uptown Charlotte and 501 Fayetteville Street in Raleigh, a 22-story, $118M mixed-use apartment and office tower opening this December.
DRP’s investment in Columbia adds to other recent acquisitions across the region including Raleigh, Richmond, Durham, Greensboro, Greenville, SC and Virginia Beach. Jason stated, “We continue to actively seek additional acquisition and development opportunities, as we continue to grow and expand our portfolio into new markets across the region.”
The Carolina’s office of Cushman & Wakefield represented the seller in the transaction. First Financial of Ohio provided the debt financing for the transaction.
About Dominion Realty Partners, LLC
Dominion Realty Partners (DRP) is a full-service real estate organization providing development, management, leasing, acquisition and investment services. As one of the most active developers in the Carolina’s, Dominion Realty Partners was recently named the 2018 North Carolina Developer of the Year by NAIOP and was also recognized as a Green Partner of Excellence by the National Green Building Standard for their leadership and innovation in environmentally responsible residential development. Collectively, the DRP team of professionals brings more than five decades and $2 Billion of real estate experience in delivering high quality, environmentally friendly commercial and residential real estate projects throughout the Southeastern and Mid-Atlantic United States. In the past 24 months, DRP has developed, acquired, and sold in excess of $700 Million worth of real estate assets.
