Harbert, Smith/Hallemann Take 5 in Mason

HMC closes on a five-building portfolio in suburban Cincinnati/Mason from Duke Realty.

By Anca Gagiuc, Associate Editor

Governors Pointe, Cincinnati
Governors Pointe, Mason, Ohio

CINCINNATI—Harbert United States Real Estate Fund V L.P. and Smith/Hallemann Partners have acquired a five-building office portfolio in Mason, Ohio, a suburb of Cincinnati. The seller was Duke Realty; the financial details of the transaction were not disclosed.

Smith/Hallemann Partners and HUSREF V closed on the deal, the joint venture’s second, on Dec. 4. The partnership plans to invest nearly $10 million in upgrading and leasing the portfoli, which was 80 percent occupied at closing.

The five buildings include the Governor’s Pointe Portfolio, which consists of four Class A buildings totaling 530,000 square feet, and the Governor’s Hill Portfolio, a 202,0000-square-foot Class A property. The assets are located along I-71 North in the Mason submarket.

The office portfolio’s tenant roster features such companies as Mercy Health, ATOS IT Solutions, Vantiv, GE Capital, Verizon Wireless, the state of Ohio, Hillshire Brands Co., Colgate-Palmolive Co., Altria, General Revenue Corp., and Schwan’s Consumer Brands.

Image courtesy of Duke Realty