LAS VEGAS, NV / ACCESSWIRE / June 24, 2024 / Sentinel Net Lease ("Sentinel"), a national commercial real estate investment firm, is pleased to announce the successful sale of the United Healthcare Customer Service Center ("Property"), a 142,500-square-foot premier office building located in San Antonio, Texas. The transaction was brokered by Russell Noll and Kelly Ralston of Transwestern Real Estate Services.
The property is a 142,500-square-foot premier office building located in San Antonio, Texas. The sale marks the second strategic disposition during 2024.
The property, situated at 6200 Northwest Parkway, San Antonio, TX, boasts a prime location in the University Park Tech Center. This Class A office building features state-of-the-art amenities, including advanced security systems, a full cafeteria, and modern office spaces designed to foster productivity and innovation.
At a time when many office investors are struggling, Sentinel has completed two profitable dispositions in the first two quarters of 2024. The sale aligns with Sentinel Net Lease's strategic objective to provide risk-adjusted returns to its investors, regardless of market conditions. The transaction underscores the company's ability to identify and execute on value-maximizing opportunities within its portfolio.
"We are thrilled to announce the sale of this outstanding office building, which exemplifies the quality of assets within our portfolio," said Fred Lewis, CEO of Sentinel Net Lease. "This transaction not only reflects our commitment to delivering superior returns to our investors but also demonstrates our proactive approach in managing our portfolio to align with evolving market dynamics."
"Selling this asset at a profit just two years after acquiring it speaks volumes about our team's experience," said Dennis Cisterna, Sentinel's Chief Investment Officer. "Because of the selective nature of our acquisitions, we've been able to yield substantial returns for our investors as we continue to acquire assets at below-market pricing. As the market has started to adapt to the higher interest rate environment. we are very focused on identifying new opportunities that will drive future growth and success for our stakeholders."
Cisterna is referencing the recent launch of Sentinel Opportunity Fund I, Sentinel's $100MM fund focused on acquiring quality retail, industrial, and office properties located in the top 150 suburban metros at historically attractive prices. With the first closing for the fund scheduled later this month, Sentinel has received nearly $40MM in commitments in the past 60 days.
Contact Information:
Laura Nguyen
Director of Investor Relations and Marketing
laura@sentinelnetlease.com
757-574-3384
SOURCE: Sentinel Net Lease
View the original press release on newswire.com.
