404,425 SF Building adds to Viking Partners Growing Office Portfolio
CINCINNATI–(BUSINESS WIRE)–Viking Partners Fund IV, LLC (“Viking Partners”), a private equity real
estate investment firm focused on the acquisition, turnaround and
disposition of value-add real estate and real estate related assets,
announced the acquisition of Towers of Kenwood in north suburban
Cincinnati, Ohio. Viking Partners bought the property in a joint venture
with a fund managed by New York City based DRA Advisors LLC.
Towers of Kenwood is a Class A, 404,425 SF, seven-story office building
located at the intersection of Interstate 71 and Montgomery Road in
north suburban Cincinnati. While the building is currently 97% occupied,
Viking and DRA are planning additional capital improvements to the
asset, including upgrades to restrooms, corridors and lobbies.
“The Kenwood office market provides us with a strong value-add
opportunity for rent growth. Towers of Kenwood is a best-in-class asset
located within an extremely attractive office sub-market and
conveniently located to numerous surrounding amenities,” said Bret
Caller, Partner with Viking Partners.
Brett Gottlieb, Managing Director of DRA Advisors LLC said of the
investment, “DRA is excited to partner with Viking on this acquisition
and expand our existing joint venture relationship. This Class A
property is ideally positioned within a strong office submarket.”
For information on the entire Viking portfolio, visit www.vikingpartnersllc.com.
To connect with Viking Partners via LinkedIn, visit www.linkedin.com/company/viking-partners-llc.
ABOUT VIKING PARTNERS, LLC
Since 1991, the principals of Viking Partners have invested in more than
100 commercial real estate projects totaling over four million square
feet and valued at more than $560 million. Viking Partners is currently
seeking acquisition opportunities in the Midwest, Mid-Atlantic,
Southeast and Southwest with a transaction range of $10 million to $50+
million.
ABOUT DRA ADVISORS LLC
DRA Advisors LLC was founded in 1986 and is a Registered Investment
Advisor that specializes in real estate investment and management for
institutional investors. As of December 31, 2018, DRA has completed
acquisitions of 1,642 properties in 38 states valued at over $32
billion, consisting of 53 million square feet of office, 57 million
square feet of industrial, 60 million square feet of retail, and 69,697
multifamily units. DRA is headquartered in New York City, with regional
offices in San Francisco and Miami. For more information, visit www.draadvisors.com.
Contacts
Carl Goertemoeller
Viking Partners
513-985-1114
[email protected]
