Origin Investments Acquires Keystone 100
- Mar 27, 2017
Charlotte, N.C.—Origin Investments, a Chicago-based real estate investment firm, acquired Keystone 100, a Class A office building within Keystone Office Park in Durham. The transaction between Origin and American Real Estate Partners was arranged and closed by HFF for an undisclosed price. According to Yardi Matrix data, the owner purchased the property back in 2012 for $6.6 million.
Located at 630 Davis Drive, the 62,300-square-foot, two-story property is in the vicinity of Research Triangle Park and numerous academic institutions, including Duke University and North Carolina State University. Tenants include ZTE, Inno Clinical, State of North Carolina and Oriel Therapeutics. Origin plans to update the lobby, fitness center and other amenities.
“We look for modern, well-located assets like Keystone 100 that can be successfully repositioned in the local market,” David Welk, Origin Investments managing director of acquisitions, said in prepared statements. “The continued growth of the Research Triangle marketplace warrants the investment we are making in acquiring and further modernizing Keystone 100.”
In 2015, Origin acquired 2605 Meridian Parkway, a 73,446-square-foot, Class A office building in the Research Triangle market.
Image courtesy of Yardi Matrix