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 Holliday Fenoglio Fowler, L.P. ("HFF") announced today that it has 
 closed the $115.5 million sale of and arranged acquisition financing for 
 a two-building office portfolio comprising First Citizens Bank Plaza in 
 Uptown Charlotte, North Carolina, and Sarasota City Center in Downtown 
 Sarasota, Florida.
 
 
 HFF marketed the portfolio on behalf of the sellers, Osprey East, LLC 
 and Osprey s.a., Ltd. The Dilweg Companies ("Dilweg"), based in Durham, 
 North Carolina, purchased the properties. Additionally, HFF worked on 
 behalf of Dilweg to place fixed- and floating-rate financing with 
 Torchlight Investors, based in New York City. The structured financing 
 partially funded the acquisition and also has the capacity to fund 
 near-term planned capital improvements and leasing-related costs on the 
 properties.
 
 
 First Citizens Bank Plaza is a 476,987-square-foot, Class A, 23-story 
 multi-tenant office building comprising two towers with sweeping views 
 of the new Charlotte Knights baseball park, Charlotte skyline and Tryon 
 Street. Developed in 1986 and renovated in 2002, the property features a 
 seven-story parking garage with 701 stalls, several on-site restaurants 
 and a bank. Currently 29 percent occupied, tenants include First 
 Citizens Bank; Collabera, Inc.; Manpower; Voya Financial Services; 
 American Heart Association and Strategic Staffing. First Citizens Bank 
 Plaza is located at 128 South Tryon Street in the core of downtown 
 Charlotte between West Fourth and Trade Streets and two blocks from the 
 new Gold Line, an Uptown streetcar system that connects to the Charlotte 
 light rail system.
 
 
 The 245,293-square-foot Sarasota City Center is a two-tower, Class A 
 office building with 13 floors in the north tower and three floors in 
 the south tower. Completed in 1989, the 88-percent-occupied property is 
 home to multi-national, Fortune 500 and investment credit tenants, 
 including Boar's Head, RBC Capital Markets, Merrill Lynch and Wells 
 Fargo. Additionally, the property features panoramic views of downtown 
 Sarasota and the Sarasota Bay, a six-story parking garage with 625 
 stalls, on-site restaurant and bank, hair salon and spa, dry cleaners, 
 fitness center, lockers and landscaped courtyard with tables and chairs. 
 Situated one mile from the Gulf of Mexico, Sarasota City Center is 
 located at 1819 Main Street on the northwest corner of Main Street and 
 Links Avenue in the heart of downtown Sarasota. The property's central 
 location puts it within walking distance of several downtown amenities, 
 including numerous restaurants and retail, Pane Park, Sarasota County 
 Courthouse and a Whole Foods Market.
 
 
 The HFF investment sales team representing the seller was led by senior 
 managing director Ryan Clutter, senior managing director Hermen 
 Rodriguez, director Scot Humphrey, associate director Chris Lingerfelt 
 and associate Tracey Goo.
 
 
 "The sale of First Citizens Bank Plaza and Sarasota City Center 
 demonstrates the appeal in the marketplace for well-located, CBD assets 
 with notable upside opportunities," Clutter said. "Both of these 
 exceptional assets are located in strong rent growth corridors and 
 provide the opportunity to achieve attractive returns upon leasing up 
 the remaining vacant space in each asset. We received strong interest in 
 these assets and anticipate continued strong demand for similar 
 offerings through the remainder of 2017. The leasing fundamentals in 
 most southeastern markets are very strong, and investment capital is 
 taking note."
 
 
 "First Citizens Plaza offers tremendous upside to its new ownership 
 group and is one of the best-located office buildings in the Uptown 
 Charlotte area," Lingerfelt added.
 
 
 HFF's debt and equity placement team representing the buyer was led by 
 senior managing director Travis Anderson and director Brent Bowman.
 
 
 "First Citizens Bank Plaza and Sarasota City Center are two, 
 well-located office buildings that will greatly benefit from a fresh 
 infusion of capital as well as Dilweg's strong track record of 
 successfully stabilizing value-add office properties," Anderson said.
 
 
 "While the significant vacancy of First Citizens made acquisition 
 financing challenging, ultimately the high-quality nature of the assets, 
 prime CBD locations and experienced sponsorship attracted many lenders 
 to the table," Bowman added.
 
 
 About Dilweg Companies
 
 
 The Dilweg Companies is a full-service commercial real estate investment 
 firm based in Durham, North Carolina. Since its launch in 1999, Dilweg 
 has gained broad experience in the acquisition, development and 
 operation of office, retail, warehouse/flex, multifamily and 
 self-storage properties. Dilweg's investors have sponsored over $1 
 billion in assets and more than 9.6 million square feet throughout North 
 Carolina, South Carolina, Virginia and Georgia. For more information, 
 please call (919) 402-9100 or go to <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.dilweg.com&amp;esheet=51539821&amp;newsitemid=20170411006250&amp;lan=en-US&amp;anchor=www.dilweg.com&amp;index=1&amp;md5=d243883b3aa43e6ade80ded281d78a47" rel="nofollow" rel="nofollow">www.dilweg.com</a>.
 
 
 About Torchlight Investors
 
 
 Torchlight Investors provides investment management services to 
 institutional clients seeking exposure to commercial real estate-related 
 debt markets. Since its inception, Torchlight has acquired over $20 
 billion in commercial real estate debt investments - successfully 
 managed portfolios through market cycles and has grown to a firm with 
 over $4 billion of assets under management. Building upon Torchlight&#39;s 
 deep knowledge of commercial real estate debt, Torchlight launched its 
 distressed debt workout business in 1998 and is a nationally rated 
 special servicer. For more information please visit <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.torchlightinvestors.com%2F&amp;esheet=51539821&amp;newsitemid=20170411006250&amp;lan=en-US&amp;anchor=www.torchlightinvestors.com%2F&amp;index=2&amp;md5=92c03f77c986f31639a696403fe582a2" rel="nofollow" rel="nofollow">www.torchlightinvestors.com/</a>.
 
 
 About HFF
 
 
 Holliday Fenoglio Fowler, L.P. ("HFF"), HFF Securities L.P. and HFF 
 Securities Limited (collectively, "HFFS") are owned by HFF, Inc. HF. HFF operates out of 24 offices and is a leading provider of 
 commercial real estate and capital markets services to the global 
 commercial real estate industry. HFF, together with its affiliates, 
 offers clients a fully integrated capital markets platform including 
 debt placement, investment sales, equity placement, funds marketing, M&amp;A 
 and corporate advisory, loan sales and loan servicing. For more 
 information please visit <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.hfflp.com%2F&amp;esheet=51539821&amp;newsitemid=20170411006250&amp;lan=en-US&amp;anchor=hfflp.com&amp;index=3&amp;md5=93e536e2608a0330198f80b3a6fc9e49" rel="nofollow" rel="nofollow">hfflp.com</a> 
 or follow HFF on Twitter <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fhff&amp;esheet=51539821&amp;newsitemid=20170411006250&amp;lan=en-US&amp;anchor=%40HFF&amp;index=4&amp;md5=41d84aeee5ee3b5c5fe237a28c763fcc" rel="nofollow" rel="nofollow">@HFF</a>.
 
 
 Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a 
 North Carolina licensed real estate broker.
 
 
 
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