Seattle, WA (December 3, 2019) – Equus Capital Partners, Ltd. (“Equus”) and The Roxborough Group, LLC (“Roxborough”) jointly announced today the sale and purchase of a four-building, 248,041 square foot, Class A office portfolio known as “Quadrant Willows” located in Redmond, Washington, a submarket of Seattle. The portfolio was 100% leased at the time of sale. Newmark Knight Frank (“NKF”) advised Equus through all stages of the marketing, due diligence, and sales process. The buyer, Roxborough, was self-represented.
NKF Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairman Nick Kucha, Executive Managing Director Ken White, Senior Managing Director Michael Moll, Director James Childress, Executive Managing Director Joe Lynch and Senior Managing Director, Dan Harden represented the seller, Equus.
“Selling a building of this size, quality, and tenancy is rare in a market like Willows Road, one of the nation’s top performing suburban micro markets,” said Nick Kucha of NKF. “We received interest from several domestic investors but were delighted to work with The Roxborough Group on behalf of Equus Partners.”
Quadrant Willows is located at 11121,11241,11261, and 11351 Willows Road near the epicenter of Seattle’s tech-dominated Redmond submarket. Equus acquired the project on behalf of Equus Investment Partnership X, L.P., a fully discretionary fund managed by Equus, in two separate transactions in March and December of 2016. Since acquisition, Equus focused on vacant lease-up and completed approximately
$850,000 in renovations.
“We were able to assemble an attractive 4 building portfolio, through two separate acquisitions, in one of the most dynamic office markets in the country and take the occupancy from a combined 78% at acquisition to 100% at the time of sale,” commented Robert Butchenhart, Vice President for Equus and Manager for Equus’ West Coast office in LA. Robert Butchenhart, Christopher Locatell, Senior Vice President and Director of Dispositions, Mark Ledger, Senior Managing Director, and Samuel Schifman, Financial Analyst, oversaw the transaction for the firm.