Adventus Acquires Cantera Meadows Office Building - KMPH FOX 26 | Central San Joaquin Valley News Source

Adventus Acquires Cantera Meadows Office Building

Posted: Updated:

Vancouver, BC / ACCESSWIRE / March 11, 2014 / Adventus Realty Trust (Adventus) is pleased to announce the acquisition of its fifth office building, Cantera Meadows, located in suburban Chicago. Cantera Meadows complements the other properties in our portfolio which has now grown to approximately 1.5 million square feet of office space, all located in the suburban Chicago market.

Rod Johnston, President and CEO of Adventus, states: “We have put together a strong portfolio of properties, worth approximately US $150 million, since the inception of Adventus in 2012. Our latest acquisition, Cantera Meadows, and our other properties are confirmation of the value of our focus.

The market for US real estate is improving, yet we are not having any problem finding exceptional properties in our niche of office properties in the US $10-50 million range.

This niche gives us a distinct advantage and enables us to acquire properties on favourable terms that give us a healthy margin between our acquisition capitalization rates and our mortgage rates. We are within reach of our goals for 2014, which include acquiring 2 million square feet of lease space, approximately US $200 million in asset values and diversifying to our second city.”

Cantera Meadows

Located in Warrenville, Illinois, Cantera Meadows was built in 1997, and was purchased for $28.4 million, or $139 per square foot. The building is 8 stories and contains 203,842 square feet of leaseable area. The property, which is 92% leased on a long term basis, is anchored by EN Engineering, a large oil and gas engineering firm and one of the fastest growing companies in the US, and Patterson Medical, a subsidiary of Patterson Companies, a US publicly traded $4.5B dental and medical supply company with a 100 year-plus operating history.

The Property was financed by JP Morgan Chase who provided $19.88M of non-recourse first mortgage financing on a 10 year basis at rate of 4.9775%.

About Adventus

Adventus is a Vancouver, BC based Real Estate Investment Trust focused solely on US office properties in the US $10M – $50M range. For more information on Adventus including our team, corporate strategy, photo gallery , details of our portfolio, and press releases, we invite you to visit our website.

ADVENTUS REALTY TRUST

By its Trustee: ADVENTUS REALTY SERVICES INC.

Per: Rodney B. Johnston, CPA, FCA

President and Chief Executive Officer


Click Image To View Full Size

ReleaseID: 412935

  • Local NewsLocal NewsMore>>

  • How To Spot A Fake Debt Collector

    How To Spot A Fake Debt Collector

    If a debt collector comes calling, you should go researching. That's the new advice coming from Yahoo! Finance to avoid getting scammed.Even if you get swindled, you're still on the hook to a real debt collector! That's the law.One way to spot a fraud is to look at how old the debt is. If it's 10 to 15 years old, chances are there aren't grounds for a lawsuit.Mandi Woodruff of Yahoo! Finance recommends, “Another way you can tell if you're dealing with a fraud or not is to look at the name of ...More >>
    If a debt collector comes calling, you should go researching. That's the new advice coming from Yahoo! Finance to avoid getting scammed.Even if you get swindled, you're still on the hook to a real debt collector! That's the law.One way to spot a fraud is to look at how old the debt is. If it's 10 to 15 years old, chances are there aren't grounds for a lawsuit.Mandi Woodruff of Yahoo! Finance recommends, “Another way you can tell if you're dealing with a fraud or not is to look at the name of ...More >>
  • Peanut Allergies No More!

    Peanut Allergies No More!

    Good news for the three million Americans who are allergic to peanuts.Researchers at North Carolina A T's School of Agriculture developed a new technique to remove peanut allergens.They say shelled and skinless peanuts can be treated with an enzyme that breaks down certain proteins that can trigger food–related allergies.Researchers say the process does not change the peanut's shape or shelf life.For more info, click HERE for the USDA info.More >>
    Good news for the three million Americans who are allergic to peanuts.Researchers at North Carolina A T's School of Agriculture developed a new technique to remove peanut allergens.They say shelled and skinless peanuts can be treated with an enzyme that breaks down certain proteins that can trigger food–related allergies.Researchers say the process does not change the peanut's shape or shelf life.For more info, click HERE for the USDA info.More >>
  • Church in Northwest Fresno Vandalized

    Church in Northwest Fresno Vandalized

    Police are looking for the vandal that left the walls and front door of a northwest Fresno church spray painted. An administrator at St. Anthony of Padua church discovered the graffiti Saturday morning when arriving to work.One of the churches front doors and the walls around it had been spray painted with bizarre images and words.If you have any information that could help police identify the person who did this, call the Fresno Police Department at 559-621-7000.More >>
    Police are looking for the vandal that left the walls and front door of a northwest Fresno church spray painted. An administrator at St. Anthony of Padua church discovered the graffiti Saturday morning when arriving to work.One of the churches front doors and the walls around it had been spray painted with bizarre images and words.If you have any information that could help police identify the person who did this, call the Fresno Police Department at 559-621-7000.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KMPH. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.