NEW YORK--(BUSINESS WIRE)--Sentinel Real Estate Corporation (“Sentinel”) announced today that it has acquired Preserve VII, a Class-A, 115,000-square-foot office building in Tampa, Florida, from Highwoods Properties, Inc.
Preserve VII is prominently located in Highwoods Preserve, a premier mixed-use campus comprising office and multifamily properties that is situated in close proximity to regional thoroughfares and residential centers, as well as dining, shopping and other recreational activities. Developed as a build-to-suit property in 2007, the building is fully leased to MetLife Corporation through October 2031.
“Preserve VII provided us with an opportunity to acquire a well-stabilized asset with a tenant that has made significant commitments to both the property and the surrounding area,” said Martin Cawley, Managing Director of Sentinel. “We expect the asset will generate steady returns and an opportunity for growth and appreciation due to its location in the quickly-growing Tampa market.”
Over its 51-year history, Sentinel has acquired a global portfolio of commercial real estate assets on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities.
About Sentinel Real Estate Corporation
Established in 1969, Sentinel Real Estate Corporation is a New York City-based independently owned real estate investment management firm. The firm currently has $7.8 billion of institutional-quality real estate assets under management on behalf of more than 100 domestic and international clients. Sentinel maintains offices throughout the United States, the Netherlands, Germany and Australia. The firm’s portfolio currently comprises over 26,000 apartment units and 5.5 million square feet of commercial real estate. Sentinel operates on a vertically integrated platform with 750 employees performing all phases of the investment process including on-site property management. For more information about Sentinel, please visit www.sentinelcorp.com.