February 26, 2015
Ice Miller Lands WSJ’s Real Estate Deal of the Week
For almost two years, Ice Miller has represented 90 North Real Estate Partners, a real-estate investment firm based in London and with U.S. operations in Chicago. During this time, Ice Miller has worked with 90 North Real Estate Partners to close multiple real-estate deals in the U.S. However, it was the most recent deal that made the Wall Street Journal’s “Real Estate Deal of the Week.”
In 2013, a venture led by investment firm Rubenstein Partners purchased a vacant 450,000 square foot office park in the Research Triangle region of North Carolina, with the intent to eventually lease it. In 2014, Rubenstein found a tenant – Lenovo Group, who leased the property for their low-end server business. As it turns out, leasing this property was not Rubenstein’s end-goal; they also wanted to sell it.
The Research Triangle area presented a strategic opportunity, and 90 North Real Estate Partners saw the long-term potential. Ice Miller attorneys, Aaron Dixon, Jeff Dack, Heather Olinger, Greg Touney and Kevin Ewing, worked with 90 North Real Estate Partners on a deal to acquire this property. As of this month, the deal is closed, and 90 North Real Estate Partners has successfully acquired the Research Triangle property.
“The sophistication of this acquisition, the level of trust involved and the cohesive teamwork displayed exemplifies the extraordinary results we look to achieve with our clients every day,” says chief managing partner at Ice Miller, Steve Humke. “Together with our clients, we continue to look ahead to the next opportunity.”