NY investor heads to NC.A 40,725 s/f two-story office building in Durham Durham, town and district, England Durham, town (1991 pop. 38,105) and district, county seat of Durham, NE England, on the sides of a hill nearly encircled by the Wear River. The town's small factories produce organs and carpets. , NC, triple net-leased to Duke University Health Care Systems for ten years, traded for $13.1 million to New York-based DS Durham LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Eastern Consolidated's Benjamin Tapper, director, represented the seller, Charlotte, NC-based Bayrock Investment Company, while Eastern's Martin Ezratty, also a director, acted on behalf of the purchaser. "My buyer wanted to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. his portfolio, both product-wise and geographically," said Ezratty, "and this property represents a stable long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. investment with relatively little maintenance required." Tapper said the cap rate was 6.25% driven, in part, by Duke's extention of its lease until 2018. Bob Hord of Johnston, Allison & Hord, PA represented the seller. Louis Soloway of Certilman Balin repped the buyer. |
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