Joint venture buys North Carolina portfolio

$251 million price tag area's highest in last 10 years

The Parker Lincoln Portfolio, a 66-building portfolio of more than 4.2 million square feet of industrial and office space, was bought from affiliates of The Jack Parker Corporation by a joint venture between BPG Investment Partnership VII and AEGON USA Realty Advisors.   The purchase price of $251.3 million is the largest real estate transaction in North Carolina in the last ten years, according to Ben W. Kilgore, senior vice president with CB Richard Ellis. The portfolio is in Raleigh-Durham, the fifth fastest growing major metropolitan area in the United States, and is currently 88 percent occupied.   "The acquisition of the Parker Lincoln Portfolio provided us with the unique opportunity to acquire a large and well-located R&D industrial portfolio within the rapidly expanding Raleigh-Durham area," said Roy C. Perry, Senior Vice President of BPG, who along with David Barndt, vice president of BPG and George Haines, project executive of BPG, directed the acquisition. &nb...

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