PRP makes $2b in net lease office and logistics deals

PRP, an investment management firm focused on credit net-lease investments, has agreed to acquire a series of logistic properties and data center land sites nationwide and sell several net-lease office investments for a total consideration of $2 billion.

On Aug. 19, PRP closed on the $204.41 million sale of Sequoia Plaza, a three-building, 370,000-square-foot office portfolio leased to Arlington County, Va. The properties were acquired by an affiliate of Boyd Watterson Asset Management. Sequoia Plaza serves as the headquarters for Arlington County’s Department of Human Services and the Arlington County Public School System.

PRP also closed on the disposition of the 3M Austin Office and Lab Campus, a 335,825- square-foot, two-building complex located in the Northeast submarket of Austin for $184.1 million. The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate operating in the fields of industry, wor