Private investment firm Equity Group Investments has led a consortium of investors to acquire the Normandale Lake Office Park in Minneapolis, US.
The complex comprises 1.7 million square feet of space in five towers, situated on 23 acres overlooking the 2,500‐acre Normandale Lake Recreational Area. Price and terms of the transaction were not disclosed.
“Normandale is the premier office environment in the Minneapolis market,” said David Helfand, EGI’s co-president, who led the joint venture partnership in the transaction. . “The complex has a long track record of successfully serving the needs of the area’s most prestigious tenants. We are committed to maintaining the park’s premium market position and exceptional reputation.”
EGI serves as the managing member of the joint venture partnership, which includes real estate investment firms GEM Realty Capital and Perennial Investments and Advisors.
EGI is the private investment firm founded by Sam Zell more than 40 years ago. The firm has interests in real estate, energy, logistics, transportation, communications and health care. EGI invested in Normandale Lake Office Park through its Zell Credit Opportunities Fund.
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