ANDOVER, MA- Novaya Real Estate Ventures and Wheelock Street Capital sold 1 Technology Drive in Andover, MA to Sunset Rock, LLC. Financial details of the transaction were not disclosed.
The Property is a 100,000 SF office building positioned in a premier office location in Andover. The building features a newly renovated lobby, common areas, and exterior improvements.
In the transaction, Sunset Rock, LLC was represented by Sam Oddo of Oddo, Inc, Winchester MA.
Novaya Real Estate Ventures was founded in 2011 by Jim Alden, Peter Carbone, Jeff Theobald and Scott Tully. To date, Novaya has transacted on over 9 million square feet of industrial, flex, office, residential and urban retail product with gross asset value in excess of $1B in partnership with several of the premier institutional and family office investors worldwide.
Wheelock Street Capital was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with over 25 years of broad real estate transaction experience across all major asset classes. Wheelock 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 will invest 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.