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**Fortress Investment Group Acquires Spark LS Campus Near Raleigh for $226.5 Million**
Fortress Investment Group has acquired the 1.5 million-square-foot Spark LS campus near Raleigh for $226.5 million. The transaction was made with sellers Trinity Capital Advisors and Starwood Capital Group.
The sale comes shortly after Trinity and Starwood secured a lease agreement with Millennium Print Group, which is taking up 1.27 million square feet of the campus in a long-term, 20-year net lease with options for renewal for an additional 20 years. Millennium Print Group is a subsidiary of The Pokémon Company International of Japan and is known for manufacturing Pokémon trading cards.
To help finance the acquisition, Fortress secured a $111.1 million loan from Bank of America.
The deal includes six parcels located along Spark View Drive and McCrimmon Parkway. Specifically, the properties are located at 440 and 549 Spark View Drive, and 4773, 4825, 4921, and 4965 McCrimmon Parkway. The site comprises two advanced manufacturing buildings, an amenity building, and undeveloped land.
Fortress Investment Group currently manages approximately $50 billion in assets.
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