Trinity Capital Continues Selling Assets with Recent Sale of South End’s Steel Yard

June 26, 2014

Real Estate Development Firm Stabilizes Asset, Sells at 96% Occupancy

After two and a half years of ownership and taking Steel Yard from 62% occupancy to 96%, Trinity Capital Advisors has sold the iconic South End mixed-use asset to Stockbridge Capital Group.

“Creating success for Steel Yard has been a true highlight for us,” noted Walker Collier, Partner at Trinity Capital. “Steel Yard presented an ideal opportunity for Trinity Capital to invest in a high-quality well-located asset and add value through repositioning and lease up, just as we did with NASCAR Plaza, Ally Center and 7825 Ballantyne Commons Parkway.”

Trinity Capital recently sold 7825 Ballantyne Commons Parkway for $3.75 million after purchasing the asset for $2.3 million in 2011. Currently, three buildings within Trinity Capital’s portfolio are offered for sale as a result current capital market conditions and the completion of the value-add process: 2605 Meridian Parkway and The Capital Center in North Carolina’s Triangle region, and downtown Charlotte’s Ally Center, now 98% occupied.

“We’re continuing to execute on our core strategy of buying value-add real estate, leasing it up, and selling it,” Collier noted. “Additionally, we’re developing assets in locations where the market fundamentals support adding new high-quality buildings.” Trinity Capital is currently developing a 277,000 square foot building industrial building in Concord; 215 International Drive and a 300,000 square foot building in Rock Hill’s Riverwalk for McKesson Medical-Surgical.