APG Capital, Evergreen Medical Properties & Northwood Ravin Acquire Office Portfolio For $79.4M

The office portfolio in Raleigh-Durham, N.C., consisting of nine buildings, has been sold for $79.4 million. The sale includes eight buildings in the Rexwoods Office Park located in Raleigh and one building in the Creekstone Park development in Durham.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $79,400,000
• Address: 2300 Rexwoods Drive, 2301 Rexwoods Drive; 4201, 4207, 4301 & 4325 Lake Boone Trail; 2418 Blue Ridge Road & 2500 Blue Ridge Road
• Market: Raleigh & Durham, NC
• Buyer: APG Capital, Evergreen Medical Properties & Northwood Ravin
• Seller: Highwood Properties Inc

The divestment of the office portfolio was completed with APG Capital, Evergreen Medical Properties, and Northwood Ravin as buyers representing the purchasing entities. Highwoods Properties Inc. acted as the seller in this transaction.