Novaya Real Estate Ventures and Wheelock Street Capital have sold 1 Technology Drive in Andover, Mass., to Sunset Rock. A sales price was not disclosed.
The property is a 100,000-square-foot office building positioned in a premier office location in Andover. The building features a newly renovated lobby, common areas and exterior improvements.
Novaya Real Estate Ventures was founded in 2011. To date, Novaya has transacted on more than 9 million square feet of industrial, flex, office, residential and urban retail product with gross asset value in excess of $1billion in partnership with several premier institutional and family office investors worldwide
Wheelock Street Capital was formed in 2008, and has since raised over $2 billion in capital commitments and is currently investing its fifth fund comprising $725 million of commitments from leading pension funds, endowments and foundations. Wheelock invests in a broad range of real estate assets throughout the United States. The fund may invest directly or with high-quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings and recapitalizations.
