OlivePoint Capital, an institutional real estate investment manager focused on thematic and special situations strategies, and Redwood Capital Management, a global alternative investment manager focused on opportunistic credit and other special situation investments (Redwood Capital), announced the acquisition of 3900 Paramount Parkway, a 220,000-square-foot class A office building located within Research Triangle Park (RTP) in Raleigh-Durham, N.C.
The property is 100 percent leased to Pharmaceutical Product Development (PPD), a subsidiary of Thermo Fisher Scientific — a global leader in life sciences with an A– S&P credit rating — and benefits from a long lease duration and full corporate credit support.
“As office headlines remain negative, we see what many market participants are missing: When an entire asset class falls out of favor, pricing often disconnects from fundamentals,” said Adrian Bejarano, co-founder and managing partner at OlivePoint. “O
