Innovatus Capital Partners Acquires Lakeview East and West in Ashburn, Virginia

2/10/20

Property Located in Suburban Washington, D.C. as Area Propelled by Growth of Technology Industries

Purchase Marks the Eleventh Property Investment by Innovatus Capital Partners, LLC

Innovatus Capital Partners, LLC is pleased to announce that they have acquired Lakeview East and West located at 20130 and 20135 Lakeview Center Plaza in Ashburn, Virginia. Formerly owned in a joint venture between The Brookdale Group and MRP Realty, the two office buildings were purchased for $46.5 million by Innovatus earlier this year. Together, both Class A properties total 204,129 square feet. Lincoln Property Company has been retained to lease and manage the properties.

Lakeview East and West are both approximately 96% leased and boast nine-foot finished ceilings, highly-efficient and virtually column-free floor plates, a high-end fitness center, and are positioned along an exceptional lakefront setting. Located immediately off Route 7 and Loudoun County Parkway, it is well-located amidst a growing, walkable retail amenity base and is only minutes away from One Loudoun town center and Dulles International Airport.

“We are thrilled to be continuing this leasing assignment and adding our property management services under new ownership too,” said Brandon Ernst, Senior Executive Vice President of Lincoln Property Company. “Loudoun County has so much to offer…between the increased interest within the technology, cyber security and defense sectors and the incredible access to Dulles Airport and the Toll Road, it’s easy to see why we’re almost leased up in both buildings.” “The purchase aligns with our strategy to invest in U.S. commercial office properties located in strong U.S. growth markets across the U.S.”, said Bradley Seiden, Managing Director at Innovatus. “We look forward to continuing our relationship with Lincoln and becoming part of the growing greater DC region”.

“This sale marks the ninth (9th) U.S. transaction that Lincoln has completed with Innovatus in just 22 months.” said Lincoln Property Company Senior Vice President of Acquisitions, Scott Barbee. “We look forward to continuing our work with Innovatus and driving economic success in their targeted markets.”

Newmark Knight Frank’s Executive Managing Directors Jud Ryan and James Cassidy represented MRP Realty.

About Innovatus Capital Partners, LLC

Innovatus adheres to an investment strategy that identifies distressed, disruptive and growth opportunities in the less obvious market segments across multiple asset categories with a unifying theme of capital preservation, income generation, and upside optionality. The firm has a dedicated team of real estate investment professionals with deep experience in commercial real estate acquisitions, recapitalizations and asset management across core-plus and opportunistic real estate investments amongst all property types including office, retail, hotel, medical, industrial and warehouse. Innovatus and its principals have significant real estate experience with ventures that range from the creation of a CMBS lending group and servicing platform to making equity investments in developments and single asset purchases. Further information can be found at innovatuscp.com.

About Lincoln Property Company

Lincoln Property Company, founded in 1965, is a Dallas, Texas based global real estate company with offices in more than 450 cities in the United States and ten cities throughout Europe. As a one of the largest privately held, full-service real estate firms in the U.S., it provides real estate investment and acquisition, property management, engineering and facilities management, development, construction management, and brokerage services worldwide. Lincoln Property Company currently has $30 billion in total assets under management and has developed 138 million square feet of office, residential and industrial space. For more information on Lincoln Property Company, please call 202.513.6700 or www.lpcwashingtondc.com

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