The Pinkard Group Raises $4.5M For Virginia Office Building

2/12/17

By Jonathan Ponciano, Maryland Business News Wire

A Bethesda, Maryland-based real estate investment and development company has raised $4.5 million from 16 investors in a private stock offering, according to a Securities and Exchange Commission filing dated Feb. 9.

Dulles Creek Holdings LLC filed the Form D, signed by Robert Merrick Pinkard, on Feb. 9. Pinkard, founder and principal at Bethesda’s The Pinkard Group, is listed as Dulles Creek’s principal along with Peter Colten Kleeblatt, who also serves as principal at The Pinkard Group.

The filing coincides with The Pinkard Group’s recent acquisition of Dulles Creek, a Class A office building in the Dulles Corner submarket of Herndon, Virginia. The acquisition was announced on Feb. 5 – just days before the offering’s filing date.

The Pinkard Group is currently investing on behalf of its Pinkard Fund II, which is focused on investment opportunities in the greater Washington D.C. area. The Thursday filing from Dulles Creek Holdings lists PF II Dulles Creek as its managing member.

“The Pinkard Group is excited to kick off Pinkard Fund II with the acquisition of Dulles Creek” Kleeblatt said in a statement released to citybuzz.co. “This is our fourth office acquisition in Northern Virginia, and we are big believers in this dynamic market going forward.”

The Pinkard Group did not disclose how much it paid for Dulles Creek, but said it plans to strategically invest in the office property “in order to enhance the building’s superior features and attract additional high quality tenants from Herndon’s diversified tenant base.”

The first iteration of the Pinkard Fund comprised similar office building acquisitions in Northern Virginia beginning in 2014, including the November 2014 acquisition of Dulles Metro Center in Herndon – less than one mile away from the newly acquired Dulles Creek office building.

The date of the offering’s first sale is listed as Jan. 19, and the minimum investment accepted from any outside investor is $100,000.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The form can be found here.

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