CN Fund Management, LLC, manager of Park Ave RE Holdings, LLC (“PARE”), (collectively, the “Seller”) has completed the sale of a 75,000 square foot Biopharmaceutical R&D and production facility located in the Athens, GA MSA. The single-tenant property is occupied under a long-term lease by Alexion Pharmaceuticals, one of the world’s leading rare disease companies focused on developing life-transforming therapies for patients with devastating and rare diseases. Alexion acquired the facility as part of a company-wide initiative to gain control of its real estate footprint.
Waldo Bradley, Vice President at Columbus Nova MB LLC, who managed the sale process, commented: “We are confident that our tenant will continue to benefit from the Property’s imperative role in Alexion achieving their long-term goals.”
CNMB is a manager of investment portfolios through its separate account and Baikal programs. CN Fund Management, LLC is owned by Columbus Nova MB, LLC and manages real estate portfolios for institutions and family offices. CNMB also provides advisory services to middle market companies and real estate owners through its broker dealer, Roosevelt Equity Corporation. Please visit http://www.columbusnovamb.com/ for more information about CNMB or contact Amos Beason +1 (704) 285-7750 or Lon Brown at +1 (704) 285-7756. Also, visit us at www.twitter.com/ColumbusNovaMB
PARE is a portfolio company of Business Development Corporation of America (“BDCA”), and was specifically formed to invest in mission-critical sale-leaseback, single-tenant, net lease properties associated with the middle-market private equity community.
CNMB with offices in Charlotte, New York, manages portfolios of real estate assets for a variety of investors in a separate account program. CNMB’s Advisory Group serves middle market businesses by providing buy and sell-side, capital formation and restructuring services on a fee basis. CNMB also manages the Baikal Program, which makes investments in growing businesses and in private equity funds.